North West Queensland’s remoteness and reliance on mining and agriculture means that it is disproportionately vulnerable to external impacts such as fluctuations in commodity prices, highly variable climate and rising energy and transport costs. These impacts challenge new investment in the region and place pressure on existing business and industry.
A key action of the Government’s A Strategic Blueprint for Queensland’s North West Minerals Province, is the development of the North West Queensland Economic Diversification Strategy. The department is leading this work in collaboration with other Queensland government agencies, local government and key stakeholders.
Once developed, this strategy will assist the region to capitalise on identified opportunities across the resources, agriculture, tourism and business and industry sectors to develop a more diverse and sustainable regional economy that supports ongoing investment and local jobs.
The department released the North West Queensland Economic Diversification Directions Statement at the North West Futures forum in Mount Isa, 29 August 2018.
This Directions Statement includes four early initiatives that informed discussions at the Futures Forum. These initiatives represent a starting point for the development of the broader diversification strategy.
The diagram below outlines the approach the department is taking to develop the North West Queensland Economic Diversification Strategy.
The department recognises the significant work of local government, regional development and community organisations and industry groups to support economic growth and community resilience in North West Queensland. The diversification strategy will build on this through collaboration and ongoing consultation with stakeholders.