Cross-sectoral analysis

Industry Action Plans

The NSW Government has established Industry Taskforces to develop Industry Action Plans to position key sectors of the State's economy for growth, resilience, improved innovation and productivity, global competitiveness and new investment opportunities up to 2021. Plans are now being developed for Digital Economy, International Education & Research, Manufacturing, Professional Services, and Tourism & Events. For more detail on the Industry Action Plans, see www.business.nsw.gov.au/doing-business-in-nsw/industry-action-plans.

The NSW Economy in 2020 - A Foresighting Study

The NSW Economy in 2020, A Foresighting Study was released in September 2010. The report, prepared by Access Economics for the NSW Innovation and Productivity Council, indicates that the NSW economy is expected to experience strong growth up to 2020. The diversification of the NSW economy is identified as a major asset, with particular strengths in globally focussed areas including financial and business services, high value manufacturing and agriculture, the creation of smart networks and delivery of smart services and knowledge exports.

The report was developed with reference to four megatrends that will have a major impact on NSW's future economy. These are:

national and global policy actions to address climate change
the widespread adoption of new information technologies
demand and competition from emerging economies – especially China and India and
demographic changes across Australia, especially a growing and ageing population

The study proposes eight priority areas for NSW Government and industry action which are:

greater connectivity and use of intelligent technologies
health and aged care reform
addressing the climate change challenge
regional NSW strategic development and growth
skilled workforce development
export opportunities to dynamic Asian markets
a dynamic building and construction sector and
promoting the Creative Industries in NSW

Download The NSW Economy in 2020, A Foresighting Study

Business Opportunities in a Low Carbon Economy

In 2010, the Innovation and Productivity Council commissioned a study into opportunities for NSW arising from the transition to a low carbon economy. This resulted in the publication, Business Opportunities in a Low Carbon Economy, released in February 2011. The study investigated growth opportunities across eight industry areas: Grid Solutions, Green Buildings, Waste Conversion, Low Emissions Vehicles, Solar, Wind, Geothermal Energy and Business Services.

The report, prepared by Ernst & Young for the NSW Innovation and Productivity Council, quantifies market and employment growth arising from low carbon opportunities. It also highlights the relevant drivers and barriers associated with each opportunity. The report provides market data and sector analysis to support business actions, and the assessment and development of related government policies.

Download the Ernst & Young report Business Opportunities in a Low Carbon Economy

Regional Innovation Strategy for NSW

A Regional Innovation Strategy for NSW has been developed. The key components of the Strategy are a set of seven recommendation to build the innovative capacity of regional businesses across NSW, the development of Innovation Initiatives for each region and articulation of six guiding principles aimed at building business capacity.

The Innovation and Productivity Council has recommended the implementation of the Strategy across NSW Trade & Investment by recommending and supporting the implementation of actions to advance the key components of the strategy including:

roll-out of business development programs by NSW Trade & Investment to expand management training and to provide expert speakers in regional areas
development of the Tech Voucher program to increase the transfer of knowledge from NSW's research bodies to the business community
leveraging the capacity of high speed broadband to enhance regional business innovation. Hosting of a pilot video conference on the theme Emerging Business Opportunities in a Green Economy allowed 23 regional and city based businesses across three locations (Maitland, Orange and Sydney) to interact and discuss, via a three-way video conference call, ideas on how to identify and maximise opportunities arising from the emerging green economy.

Download the Regional Innovation Strategy for NSW

Talk to an expert

Innovation Unit

Phone: (02) 8222 4884

or send an email to:

Email:innovation@business.nsw.g innovation@business.nsw.gov.au

Projects and publications