The AICC, in partnership with Optus and Gilbert+Tobin, hosted NSW Premier. The Hon Mike Baird, MP at a major business briefing with the purpose to present an update on the state’s performance to business leaders along with how innovation and collaboration is playing a large role. The brief included updates on current infrastructure developments, as well as health, education and employment.
During the discussion, the Premier also discussed how his Trade Mission visit to Israel earlier in the year provided a plethora of learnings that he is now endeavouring to draw from as he continues to build the state’s future growth plans.
The five key insights captured from the event are:
NSW is performing on a global scale. It’s no surprise that NSW is the fastest growth state in the country, at a rate that is double what QLD and SA are experiencing. As the 22nd biggest economy globally, NSW has overtaken countries like Sweden, Belgium, Poland and Norway in terms of jobs and growth. The state has maintained its AAA rating (the US, UK, France and NZ haven’t) and is also on track to achieving a growth of almost $100 billion in net worth since 2011-2012, which saw a starting figure of $145 billion (now $246 billion). A good indication of a government ensuring today’s challenges are met, but with also the long term in mind.
Better outcomes are being realised across all corners of the state. The state is delivering highly on employment - since April 2011, 330,900 new jobs have been created in NSW. Significant growth has been seen in western Sydney, with more jobs generated in this area than QLD, SA and TAS combined. We’ve welcomed more than 3,800 teachers and 5,300 nurses and midwives into new roles and the NDIS has meant 60,000 new support payment opportunities provided to our disabled population.
A better future for growth is being built. It’s clear that the biggest focus for the state has been in the infrastructure space. For the benefit of better functionality and productivity for its people, an unprecedented amount of work is being undertaken to enable better day-to-day comings and goings and surroundings for the population. With transport being of most concern, the state’s spend in capital budget is more than New York and London are outlaying – which is a huge commitment, but the decisions being made today are of greater benefit for tomorrow.
We’re being seen as more attractive. The state’s prosperity in terms of infrastructure, amenities and other deliverables is paying off on an international level. Global corporations are starting to shift their perceptions of seeing Singapore as the best Asia-Pacific gateway in favour for NSW. Continued improvements will only add to highlighting how large scale businesses can successfully operate in our exceedingly co-operative and opportunity-creating environment.
The state is learning to be more innovative. Having travelled to Israel in April of this year, the Premier spoke extensively on the lessons learnt on the Trade Mission that he led. Aware that NSW will only continue to grow with the right attitudes by businesses to collaborate and embrace an eco-system of shared successes – as practiced in Israel, the Premier conveyed his eagerness to ensure that NSW becomes the hub for innovative activity and achievements. With the digital economy expected to grow at 7 times the traditional rate in the next 10 years, the Premier is acutely aware of the opportunities that can be seized and embraced when everyone works together for mutual and shared benefit.