The Tasmanian Forests Agreement is providing direction for the forest and timber products industry amidst the uncertainty of market changes, helping it to adapt and ensuring an ongoing sustainable timber supply. The Agreement is focussed on supporting the workers and communities already affected by change; assisting the forestry industry in this transition; and assisting the diversification and growth of the Tasmanian economy. The Agreement includes funding of $120 million over 15 years to support economic diversification projects, including an initial $20 million in 2011-12. This $120 million commitment to economic diversification of the Tasmanian economy includes the $8 million Tasmanian Innovation and Investment Fund (TIIF) designed to support innovative businesses and boost job numbers across Tasmania.
Australian and Tasmanian Governments are working together through a memorandum of understanding, to analyse options for economic diversification to support transition to a sustainable Tasmanian economy. This work will be consistent with the Tasmanian Economic Development Plan, released at the end of August 2011.
Provided here are details of projects that have been funded to date under the Economic Diversification stream of the TFA.