CURRENT PROJECTS

Creative Industry sector
A detailed analysis of the economic fundamentals of the NSW creative industry has been completed. The analysis shows that NSW's creative industry is critical to the NSW economy and is also a national leader - employing 37% of the national creative workforce, with employment growth at twice the rate of other industries and average wages 18% higher than the average of all other industries. NSW also dominates employment in 10 of the 11 creative industry sectors investigated. Two reports have been produced - NSW Creative Industry: Economic Fundamentals and NSW Creative Industry Insights - which emphasise the creative industry's importance and contribution to the broader NSW economy, its dominance nationally, key challenges and opportunities for the future and proposed actions to further grow the industry.

Review of the National Innovation System
NSW is an active participant in the current Review of the National Innovation System being undertaken by the Federal Government. The Innovation Unit prepared a submission to the Review Panel on behalf of the Department of State and Regional Development (DSRD) and recently convened a policy workshop among States and the Commonwealth to provide input regarding the Review Panel's recently released Green Paper, Venturous Australia. Following this workshop, DSRD prepared a response to the Green Paper for consideration by the Commonwealth Government.

Financial Services sector
A detailed economic analysis of the financial services sector has been completed. This analysis outlined Sydney's key strengths with a focus on identifying activities required to further enhance the competitive position of Sydney, already a domestic leader with leading regional niche capabilities, into a regional financial services centre. A NSW Financial Services Action Plan is now in development, based on work completed earlier this year and discussed at July's Financial Services Summit hosted by DSRD and attended by the Prime Minister, Premier and Minister for State Development. The Action Plan will be finalised once the turmoil in global financial markets has stabilised.

Logistics sector
A key report into the NSW logistics sector, Path to Innovation: Innovation in the NSW Freight Logistics Industry, has been completed. This report provides a clearer understanding of the supply chain and regulatory hurdles faced by logistics operators and emphasises the importance of the sector to the NSW economy. Report recommendations were released on 28 August 2008. On 18-19 November 2008, DSRD hosted the Australian Logistics Council's Transport and Logistics Innovation and Technology Summit.

Broadband Roll Out
The Innovation Unit is working with the Department of Commerce to prepare for the Federal Government's rollout of high speed, open access broadband to 98% of Australians. A submission was made to the National Expert Panel earlier this year and the Innovation Unit is continuing its work with the Department of Commerce to produce a position paper for the Federal Minister's office on the importance of the project to NSW and key areas in which NSW can assist with the rollout. The NSW Broadband Advisory Panel, which consists of relevant public and private sector members, has revised the position paper and it is now under government consideration.

Low Carbon Innovation Project
A Low Carbon Innovation project is being developed in conjunction with the Department of Environment and Climate Change. The project investigates the drivers and impediments to the possible take-up of low carbon technologies and processes and identifies opportunities for government and industry action. A report is being finalised.

Regional Innovation Strategy
A Regional Innovation Strategy for NSW is currently being developed by the Innovation Unit to complement the NSW Statement on Innovation. The Strategy will develop a framework and policies to facilitate and enhance the innovative capability of businesses in regional NSW. The Strategy is due to be completed by March 2009. Once released, the Strategy will be available from this site.