Page 675 - Week 03 - Tuesday, 17 March 2015
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In 2012 I launched “Growth, diversification and jobs: a business development strategy for the ACT”. The strategy outlined a vision for growing Canberra’s economy, building on a commitment to private sector growth and jobs. We set out to achieve this by focusing on three key areas: fostering the right business environment, supporting business investment and accelerating business innovation. In September 2013 I provided the first report to the Assembly on the implementation of the strategy. Today I am tabling the second business development strategy implementation report. It reports against the 26 actions set out in the strategy and shows that all of the actions have been successfully implemented.
I will also update the Assembly on what has occurred since the first report, with a particular emphasis on two significant achievements that are a direct outcome of the business development strategy. They are the establishment of the CBR Innovation Network and Invest Canberra. To provide context for the strategy, it is worth outlining the current performance of the ACT economy, a strong, diverse and sustainable economy, with strong ties to our wider region, that underpins the Canberra community now and into the future. In broad terms, the economy continues to perform extremely well, especially given the job cuts inflicted on the ACT’s economy by the federal government.
There is a clear indication that our economic development approach is paying dividends. We are a more diverse and more resilient economy than we were in 1996 because we have been prepared to build on our strengths. While I am deeply concerned about negative, short-term impacts on our economy from cuts in the federal budget, we are working with the private sector to shore up our economy to weather any changes over the medium term.
Our focus is on ensuring that we emerge out of this period as soon as possible and in a stronger position. That is why my government is stimulating the economy and providing confidence by developing and growing emerging enterprises, entrepreneurs and sectors to expand our economic base and grow local employment. That is why we are promoting Canberra to the region, the nation and the world to attract tourism and business investment. That is why we are continuing the development of the CBR brand.
It is why we are conducting ongoing regulatory reform and red tape reduction. It is why we are progressing our payroll tax reform agenda and why we are attracting foreign investment and skills through niche programs for foreign investors and skilled and business migrants. It is why we are growing our export capabilities, including partnering with our universities to support their growth and their international outreach. It is why we are nurturing grassroots sports and elite athletes to solidify our reputation as a centre of sporting excellence.
It is why we are supporting events and activities that maximise the value of the visitor economy in the ACT. It is why we are supporting the development and presentation of the arts in the territory. It is why we are producing major events for our city and managing significant sports and event infrastructure. And it is why we are leveraging our land advantage and infrastructure to transform Canberra into a dynamic, creative
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