Creative Industries Sector

The Hon. N.J. CENTOFANTI (14:51): My question is to the Minister for Trade and Investment. Can the minister please provide an update to the council about how the government plans to grow jobs and drive investment into the creative industries sector?

Members interjecting:

The PRESIDENT: Order! Minister for Trade and Investment.

The Hon. D.W. RIDGWAY (Minister for Trade and Investment) (14:51): Last sitting week, I outlined to the chamber how the government plans to grow our economy by targeting growth and investment in more high-tech service-focused jobs to ensure South Australia returns stronger than before. I firmly believe our handling of the COVID-19 crisis has positioned us as the premier investment destination for companies seeking a safe, stable and cost-effective jurisdiction to base their businesses and valuable employees. One of our priority sectors that we have identified as having potential for significant growth is creative industries.

The Hon. J.E. Hanson interjecting:

The Hon. D.W. RIDGWAY: Mr President, I am always alarmed that the members opposite are not interested in listening when we are trying to grow the economy. We have been closely consulting with industry—

Members interjecting:

The PRESIDENT: Order!

The Hon. D.W. RIDGWAY: —as part of the development of the industry-backed sector plan—industry backed. We have been out consulting. Everyone here would be aware that we already have a thriving film and VFX industry, thanks in part to the existing Post Production, Digital and Visual Effects Rebate (PDV), which was introduced by the previous government. We also think there is great potential in growing the closely aligned video game sector, which is why the Marshall Liberal government made the decision to broaden the existing PDV rebate to include video game development.

The video game sector is already growing at over 10 per cent a year and globally is worth more than the film and music industry put together. During COVID-19, the sector has produced record results and is one of the few COVID-resilient growth sectors. Furthermore, over 80 per cent of Australian game revenue comes from export markets, which is an area the Marshall Liberal government is targeting and has been targeting ever since we came to office.

While other states have introduced their own 10 per cent PDV rebate for the VFX industry, this extension to include video game development is a national first—again, the Marshall Liberal government leading the nation. This extension has the potential to turn South Australia into a creative industries hub and will also support the long-term growth of other industries such as space, defence, manufacturing, construction, health and medical, and more, which are increasingly using the same technologies as the video game sector to visualise and test their products and services.

It is technology and industries like these that are the future for the global economy, as skills become increasingly complex and sought after by employers. The Marshall Liberal government is committed to investing in these sectors to ensure South Australia emerges into the post-COVID world stronger than before.