Following extensive industry consultation and collaboration, all nine Growth State priority industry sector strategies have been launched.
They will inform the State Government on how it can assist in unlocking and accelerating business expansion and job creation.
The nine priority sector strategies are Tourism, International Education, Food, Wine and Agribusiness, Health and Medical Industries, Energy and Mining, Hi-Tech, Creative Industries Space Industry, and Defence Industry.
The Minister for Trade and Investment Stephen Patterson said the Marshall Government is acting on the Stephen Joyce Review and acknowledged industry does the heavy lifting, while the Government’s role is to support industry growth.
“Each of the nine priority sector strategies set the direction for industry to grow, and sets ambitious yet achievable growth targets to attain by 2030, while both identifying the impediments to growth and the opportunities to accelerate growth,” Minister Patterson said.
The nine priority sector strategies launched include growth targets of:
* Tourism – visitor expenditure of $12.8 billion by 2030, to generate an additional 16,000 jobs
* International Education – $3 billion expenditure (service exports), 71,000 enrolments and 23,500 jobs by 2030
* Food, Wine and Agribusiness – net revenue of $23 billion by 2030
* Health and Medical Industries – double the current contribution to the South Australian economy (industry value-add) to $5 billion by 2030
* Energy and Mining – increased exploration expenditure to $300 million a year by 2025 and growing sector exports to $13 billion by 2030
* Hi-Tech – average 6 per cent growth per annum, seeing the gross value-add for the sector increase to reach $365 million by 2030
* Creative Industries – 5 per cent growth per annum to 2030, seeing the gross value-add for the sector reach $2.1 billion by 2030
* Space Industry – average growth rate of 5.8 per cent per annum to 2030, seeing the gross value-add for the sector reach $250 million
* Defence Industry – create more than 4,000 direct ship building jobs, with thousands more in adjacent and support industries by 2030.
“One example of progress has come out of the Health and Medical Industries Sector Plan 2020 to 2030, with the launch of the HMI Portal,” said Minister Patterson.
“The portal’s key aim is to provide a platform for cross-sector collaboration and partnerships across universities, government and industry, and will support the objective of the Sector Plan to more than double the economic growth value of the sector.
“The portal will build industry capability and scale, providing information about South Australian product or service providers specifically relating to the Health and Medical Industries sectors.”
Progress towards each of the nine sector growth targets will significantly contribute to achieving the Growth State plan’s aim to grow Gross State Product (GSP) on average by 3 per cent, notwithstanding external shocks.
The Growth State plan continues to evolve as the Marshall Government’s agenda of policy reform and initiative development is designed to improve industry competitiveness.
The Marshall Government will continue to respond to the priority sector strategies with policies, programs and projects collectively designed to lift the state’s competitiveness and attract investment.
Key areas of focus in 2021 will include Foreign Direct Investment into renewable energy projects, growth in international education services, and supporting businesses expand into new markets.
For more information about Growth State, or to view each sector strategy, visit: growthstate.sa.gov.au