The Queensland Government has introduced the Queensland New Industry Development Strategy (QNIDS), which aims to develop sectors that will be in high demand as the world decarbonises.
Deputy Premier Steven Miles launched QNIDS during his address to the Committee for Economic Development of Australia.
Deputy Premier Miles stated that the State is taking advantage of an urgent opportunity to grow its footprint in global markets of high-value supply chains involved in the transition.
“We are positioned strongly to leverage our unique strengths, including a wealth of natural resources; world-class ports; skilled workforce; and long-standing trading partnerships,” Deputy Premier Miles said.
According to the State Government, the strategy will help businesses capitalise on manufacturing opportunities to construct the infrastructure and products required to transition to renewables.
“With this New Industry Development Strategy, we are taking the next steps to strengthen Queensland’s capabilities to manufacture the equipment needed to make the shift to decarbonisation and build whole new industries to support that transition,” Deputy Premier Miles added.
QNIDS targets six key areas:
- Renewable energy manufacturing and infrastructure
- Critical minerals processing, manufacturing and product development
- Battery industry development
- Green hydrogen
- Circular economy, including resource recovery
- Bioeconomy, including biofuels and sustainable aviation fuel
A state-wide Local Economic Opportunities Network will be developed under the approach, allowing Queensland communities to discover possibilities on the ground.
The Palaszczuk Government will also use the $5.84 billion Queensland Jobs Fund and the catalyst Regional Economic Futures Fund to support regional economic growth, particularly in communities impacted by the transition to a low-emissions economy (North West Minerals Province – and the economic corridor through to Townsville – Greater Whitsunday, Central Queensland, Darling Downs South-West, and South Burnett regions).
“Our Queensland Energy and Jobs Plan sets a strong foundation for a clean energy future that promotes innovation, more jobs, sustainable communities and economic growth,” Deputy Premier Miles said.
