QFI carries out independent and rigorous analysis of Queensland specific challenges and opportunities – offering new ideas and proposals from the near to the long-term.
Evidence-based findings generate a variety of views, some supportive, some questioning, some opposed. It is this ‘contention of policy ideas’ that is sometimes lacking in Queensland’s policy process and something that the Queensland Futures Institute strives to stimulate.
Driving a ‘Queensland first’ mandate, the Queensland Futures Institute provides a trusted independent platform, through our Principles for Independent Research Policy, for both public and private sectors to independently validate and test new policy ideas and solutions.
Facilitating independent and rigorous analysis of Queensland specific economic growth challenges and opportunities, our research is developed in collaboration with experts, stakeholders, and policymakers, and is shared with government officials, legislators, and decision-makers.
QFI owes no allegiance to any government or political body, and does not take institutional positions on policy issues.
Defence Industry opportunities in QLD
Produced by industry specialists from KPMG, this report provides a comprehensive update on the rapidly escalating Defence Industry growth opportunities for Queensland.
Outlining current trends, increasing Sovereign Capability priorities, and the ability for Queensland to amplify our service capabilities driven by our prime geographic positioning, the report highlights a range of key focus areas capable of delivering on our future growth aspirations.
Better Cities, Better Regions Enhancing economic development policy
Over several decades, Queensland’s wealth base and key drivers of economic development have undergone significant change. A number of regional and remote areas face a range of challenges including low and declining populations; economic vulnerability due to reliance on a single industry sector and/or employer; capability and skill gaps; demographic and industry changes due to advancements in technology and other global trends; and dependency on local government (as the last provider) for services to preserve liveability.
This study explored the current state and future improvement opportunities, processes and structures required to develop more efficient, profitable and sustainable economic networks and policy frameworks across Queensland’s cities and regions.
Key Recommendations include:
- Quantify service provision across the State to inform policy and efficiency gains
- Refocus Queensland economic development frameworks on economic networks
- Integrate public and private sector in economic development planning and delivery
- Streamline existing grants and funds into fewer but more targeted buckets, with clearer, measurable outcomes
- Increase use and leverage of existing under-utilised capital and funding sources
- Re-direct capital funding based on areas that act as economic engines
- Engage the private sector in using a framework that better allocates risk and rewards for the effective delivery of infrastructure
- Develop and maintain socio-economic and financial report cards to enable identification of competitive advantages and changes in the economic environment at a local government level
What makes businesses start,
grow and stay in Queensland?
Surveying over 500 Queensland businesses, this new research report focuses on the key factors influencing the current and future decision-making of businesses choosing to remain located and invest in Queensland.
Six key recommendations were presented to the Queensland Government to consider including:
- Promotion of a specific pro-business growth agenda and narrative, to encourage business activity and investment.
- Maintaining and promoting critical Queensland advantages of liveability and ease of travel to and from work.
- The State Government more actively promote Queensland’s low tax status, given we have one of the lowest payroll taxes and highest thresholds in Australia.
- The State Government maintain its investment in assisting start-up businesses in Queensland and consider new ways to reduce barriers to access Government. This will capitalise on the finding that if a business starts in Queensland it tends to stay in Queensland.
- The State Government establish an investment fund, with appropriate criteria, to help existing successful businesses expand in Queensland, as a relatively low-risk way of creating jobs.
- The State Government and business community focus on improving training programs and activities to increase the availability of skilled workers given the importance of this factor in business decisions to operate or expand in Queensland.
Launched April, 2020
Opportunities for Growth
Driving forces creating economic opportunities for Queensland companies over the coming decade
Exploring the driving forces that are shaping Queensland’s economy, this report examines opportunities to leverage the state’s competitive advantages, diversify traditional industries, and create new sectors that meet emerging global demand, while also flagging the potential for missed opportunities. Its findings aim to provide a narrative for Queensland’s new economy and inform future strategic, business and policy decisions.
It identifies five Opportunities for Growth for Queensland:
- An increasingly differentiated investment package
- A growing natural advantage
- An ‘advanced’ advanced services sector economy
- Queensland’s got what future Asia wants
- Using digital technologies to transform old into new
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The Queensland Futures Institute acknowledges the Traditional Custodians of the land, pays respect to Elders past and present, and extends that respect to all Aboriginal and Torres Strait Islander peoples in Queensland.