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European Australian Business : 2008
offering another cost effective energy alternative. Natural gas is piped into the state from a world-competitive supply with an enormous capacity. An undersea power cable links Tas- mania with the Australian continent, providing further competition within the Tasmanian energy market. Private investment in Tasmania is booming and is currently 25 per cent above the long-term average. There is around $4 billion worth of private investment underway or planned in the state, including $1.9 billion for a world-class pulp mill. A survey of business confidence in August 2007 revealed that Tasmania remains above the national average, a record that has now extended for every quarter over the past six years. As a result of the surge in private investment and increased business confidence, Tasmania is currently experiencing record jobs growth. The value of Tasmania’s exports in the year to August 2007 grew by 26 per cent to 3.81 billion compared to the previous year and tripled the rate of national growth for the period which was 7.5 per cent. The continuing boom in our exports reflects the premium quality of Tas- manian products, our commitment to innovation and our strong focus on promoting the state as being open for business. Clearly Tasmanian goods are finding their way to key markets all over the world and that is an important indica- tor of the strength of our economy and the quality of our products. Tasmania’s retail spend is at record levels, thanks in part to the state gov- ernment’s decision to deregulate shop trading hours in 2002. Tasmania has a booming tourism industry, thanks largely to the pur- chase of the Melbourne-to-Devonport passenger ships and the best-ever air access into the state. More and more people are flocking to Tasmania because we offer a lifestyle that has almost disappeared from the modern world. Investment in tourism- related infrastructure has grown substantially as more people discover the state as a holiday destination. There is now over $600 million worth of tourism-related projects either planned or under construction. As well as tourism, there are many opportunities for potential investors in sectors as diverse as manufacturing, aquaculture, gourmet food and wine, ship building, mining, information and communications technology, energy, biotechnology, property development and retail. As you will glean from this message, I am very passionate and excited about Tasmania and our future. Tasmania is truly a great place for investment and trade and I encourage you to contact us to find out more. The Hon Paul Lennon MHA Premier of Tasmania Tasmania – coastal beauty 65 Area: 68,401km2 Population: 493,300 Capital: Hobart Gross State Product: A$21.1bn The Hon Paul Lennon MHA Premier Tasmania tasmania