30 March 2022
Michael Ferguson, Minister for Finance and Minister for State Development, Construction and Housing
New ABS data released today on Engineering Construction Activity in the December 2021 quarter shows that Tasmania is the strongest growing State.
Engineering Construction activity grew 7.5 per cent in the December 2021 quarter, to $447.9 million in real seasonally adjusted terms. This was the highest growth rate of the states, and is nearly four times higher than national growth of 2 per cent.
In 2021, there was $1.69 billion in engineering construction work completed, a new 12-month series record.
Demonstrating our strong plan in action, this was 15.4 per cent higher than the year before, which was the second highest annual growth of the states.
This great news demonstrates that our construction sector remains strong with a significant pipeline of work before it. The latest Infrastructure Tasmania 10 Year Infrastructure Pipeline forecasts more than $22 billion in planned infrastructure investment, the most substantial capital program in the State’s history, reflecting the confidence in our economy.
At the height of the pandemic, when things were most uncertain, we knew it was the Government’s role to step in and invest. And that’s exactly what we did, to not only support aggregate demand, but to deliver productive infrastructure, ready for when the world reopens and our economy roars back to life.
The Tasmanian Liberal Government will continue to support our building and construction sector, and the infrastructure it delivers, as we work to secure our future.
