About the Framework
The Framework details how the NSW Government – working in partnership with the private sector, research institutions and other levels of government – will support the growth of priority industries.
Our vision is for increased prosperity through sustained economic growth. We will do this by creating:
More and better jobs
Creating job opportunities and improving the quality of jobs by ensuring workforce skills develop and adjust readily to changing demands in the labour market.
Globally competitive industries
Industries that capture the global market share and grow their markets.
A resilient economy
An economy with a diverse industrial base and adaptable workforce that has greater capacity to respond to economic shocks and recover rapidly by reallocating resources to capture new growth opportunities.
The Framework targets the industries and technologies most likely to deliver public benefits.
It builds on NSW's advantages to advance opportunities for faster economic growth and provide exciting opportunities for new, well-paid jobs and increased prosperity for all NSW citizens.
Emerging industries that generate significant positive spillover benefits for the broader economy and people of NSW are:
- clean energy and waste
- defence and aerospace
- digital systems and software
- medical and life sciences.
Existing industries with high trade exposure that are important in terms of their overall contribution to NSW Gross State Product (GSP) are:
- international education
- visitor economy
- agriculture and agrifood
Core enabling technologies
The existing and emerging industries above will be the focus of interventions that accelerate growth by enhancing innovation and the uptake of core enabling technologies:
- advanced manufacturing
- digital technology including fintech.
The existing and emerging industries above will be the focus of interventions that encourage growth in focus precincts.
The NSW Industry Policy White Paper
The NSW Government is preparing an Industry Policy White Paper focusing on economic performance and innovation.
The Industry Policy White Paper will shape interventions to tackle key trends impacting NSW industries, ensuring they flourish in the future.
The Industry Policy White Paper will set the policy directions to underpin the state’s economic performance over the next 10 to 15 years. It will provide guidance and direction for new initiatives and enhancements to existing industry programs to ensure that the NSW Government’s industry policy continues to benefit the state’s economy and residents.
Public submissions were invited to help prepare the Industry Policy White Paper. Submissions closed on 24 June 2022.
Our Have Your Say page contains around 30 submissions, provided by businesses, industry organisations, universities and research organisations, and members of the public.
Investment NSW is now incorporating insights garnered in the public submissions to produce the Industry Policy White Paper.