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Legislative Council - Fifty-Fifth Parliament, First Session (55-1)
2023-10-17 Daily Xml
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Regional Investment Pipeline Data

The Hon. R.P. WORTLEY (15:02): My question is to the Minister for Primary Industries and Regional Development. Will the minister inform the chamber about the regional investment pipeline data included in Regional Development South Australia's recently published Regional Blueprint 2023, and explain how the government's policies are tailored at supporting regional investment and economic development?

The Hon. C.M. SCRIVEN (Minister for Primary Industries and Regional Development, Minister for Forest Industries) (15:02): I thank the honourable member for his question. Each year, the Regional Development Australia Network in South Australia publishes regional investment data as part of its Regional Blueprint. This data provides a rigorous calculation of the regional investment intentions of both the public and private sectors over the next five-year period.

In 2023, the RDA network assessed more than 1,000 proposed projects to estimate the state's regional investment pipeline at a staggering $62.56 billion. This represents a significant increase on the $44.6 billion figure calculated last year. In fact, what we have seen since the regional investment pipeline figures were first published in September 2020 is a steady and significant increase from the $27.8 billion figure calculated at that time. What this indicates is a growing confidence in the economic potential of regional South Australia across a range of industry sectors.

The 2023 data reveals that the most significant capital investment opportunities are associated with the renewable energy, manufacturing and mining projects located in the northern parts of the state. These investments will contribute to the fulfillment of a key mission outlined in the South Australian Economic Statement, namely to capitalise on the global green transition by using the state's sustainability credentials and natural endowment to provide green energy, products and services to the world.

Across the rest of the state's regions, major investments are also planned in agriculture, wine, food and beverage processing, tourism, creative industries, health care and social assistance. I was asked how the government's policies are targeted at supporting this regional investment and economic development. We know that many regional businesses continue to grapple with challenges such as those associated with the shortages in skills and housing, so I will just briefly outline investment in those two areas. The government has:

invested $10.2 million to establish the Regional Skills Development Fund to ensure that TAFE SA can offer more courses in rural and regional South Australia, courses which align with the needs of local industry;

invested $3.5 million over five years for a dedicated Office for Regional Housing to work with local government, economic development agencies, and employers to address housing shortages in regions; and

amended planning regulations to fast track the construction of temporary work accommodation in certain regional locations.

The ongoing delivery of regional investment will continue to be driven by collaboration between federal, state and local governments in addition to businesses, peak bodies and the RDA network. I would like to thank the RDA network for compiling the data and insights that are contained in the Regional Blueprint, in particular the regional investment pipeline, which is a very valuable resource for all stakeholders involved in supporting regional development.

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