Strong economy

Creating a diverse economy powered by bright ideas

A Strong Queensland means an economy that generates wealth and opportunities for everyone in the state, and for future generations. It creates jobs, fosters new ideas and creativity and provides the necessary infrastructure that will ensure our economy keeps on growing to support our way of life.

A Strong Queensland also means that the enviable lifestyle and environment that Queenslanders enjoy today is to be enjoyed now and in the future.

Achieving our targets

Infrastructure and growth

Queensland's record $18.2 billion investment in infrastructure has protected 127,000 jobs. Our long track record of investing substantially in innovation has resulted in Queensland performing well against other Australian states in business innovation and research and development.

The credit rating agency Moody's has confirmed Queensland's credit rating as AA1 and states that “The rating reflects the state's still strong budget flexibility, Commonwealth Government support, ample levels of internal liquidity and diverse economic base with significant growth potential.”

Queensland has traditionally benefited from rich natural resources and has seen growth through the agriculture and mining sectors. To secure the growth of tomorrow, Queensland must continue to build on our traditional strengths and foster the emerging industries of tomorrow.

Business innovation

Innovation drives economic and jobs growth and gives businesses a competitive edge in a global market. Driving innovation across all industries and businesses will help employ smarter business methods and use existing resources to improve productivity.

Leading by example

Find out how Queensland Government agencies have taken up the challenge of creating a strong economy powered by bright ideas.

2011- 12 Budget highlights

Find out how the 2011-12 State Budget is supporting the Q2 ambitions and targets:

• Strong – Creating a diverse economy powered by bright ideas (PDF, 85 KB)
• Queensland Building Boost (PDF, 105 KB)
• View the full 2011-12 Budget highlights

Targets

Target: Queensland is Australia's strongest economy, with infrastructure that anticipates growth.

Progress to date:
Economic growth Queensland: 0.2 per cent.
Rest of Australia: 2.3 per cent.

Q2 Baseline:
Economic growth Queensland: 6.1 per cent.
National average: 3.3 per cent.

Target: Increase by 50 per cent the proportion of Queensland businesses undertaking research and development or innovation.

Progress to date:
Indicative data shows that up to 46 per cent of businesses are innovating.

Q2 Baseline:
36 per cent of businesses innovating.