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Delivering on our plan to secure the future of local jobs and supply chains

26 August 2021

Roger Jaensch MP

Minister for State Growth

The Tasmanian Liberal Government is a strong supporter of investing in industries to create the jobs that Tasmanians need and to secure our place in domestic and international markets for years to come.

Securing a local workforce and local supply chains is critically important, which is why we provided an interest-free loan of $100 million to Incat to construct a new high-speed vessel. This loan, provided for as part of the 2021-22 Tasmanian Budget, enables Incat to continue to drive innovation and lead the international fast ferry sector in quality and performance expectations.

This loan secures not only Incat’s current workforce of 500 employees but will also add another 120-150 new employees to its operations, including up to 60 new apprentices across various trades, establishing a core skill-base for the Tasmanian maritime construction sector into the future.

The Tasmanian Liberal Government is also supportive of securing opportunities in the defence industry, which is why we recently delivered on our commitment to provide an interest-free loan of $600,000 to PFG Group, as funded as part of the 2021-22 Budget. This loan will assist in the construction of an ultra-durable, High-Density Polyethylene prototype (HDPE) vessel to showcase PFG’s unique boat building capabilities and help it to secure future domestic and international opportunities

This also aligns with our ongoing support for our Advanced Manufacturing and Defence Industries sector, supporting it to further innovate, commercialise and scale up to create jobs and further opportunities for Tasmanians.

The construction sector also plays an important role in our economy which is why the 2021-22 Budget delivers on our promise to invest a further $10 million to increase our Building Projects Support Program and help commercial and community projects get off the ground and provide a future pipeline for the sector and support jobs. The program, administered at arms-length from Government, provides funding to cover up to 25 per cent of construction costs – up to a maximum of $1 million – for projects with a minimum construction cost of $2 million.

The first round of grant applications was very well received, with successful applicants being announced last Friday. We have also delivered on our commitment outlined in our First 100 Day Plan by opening the second round of the grant program for applications on Wednesday.

The Tasmanian Liberal Government has a clear record in delivering on our plan to secure Tasmania’s future, and its smart investments in major sectors like these that will ensure we do just that.