Priority industries and sectors
The construction technologies sector, driven by industry demands for efficiency and better environmental performance, is critical to supporting Victoria’s infrastructure and housing needs.
With the sector giving rise to innovation across all industries and spawning new technologies in gaming and virtual reality, allowing creative industries to emerge and evolve is key to future job growth.
Victoria is a big player when it comes to major Australian defence projects, and is primed to meet the need for advanced technologies across land, maritime, aerospace and cyber defence domains.
Already an international hub for digital technology companies and startups, an innovative and supported digital sector in Victoria is central to the competitiveness of all industries of the future.
Food and fibre
Victoria’s food and fibre sector is positioned to adapt well to future trends as Australia’s largest producer and exporter of food and fibre products and a major gateway to international markets.
International education has been Victoria’s largest services export industry for more than 10 years, with the sector set to continue to be important to economic prosperity well into the future.
Medical technologies and pharmaceuticals
A highly sought after destination for medical technology and pharmaceuticals R&D and manufacturing, Victoria is well placed to develop solutions to improve healthcare globally.
Home to two of the big four banks, many of Australia’s largest health insurers and top industry super funds, Victoria is attracting the highly-skilled professional services sector needed for the future.
Retail, transport distribution and logistics and postal
Victoria’s retail sector is world renowned and famous for its fashion, food and bars, while its transport distribution, logistics and postal sectors are central to the state’s economic success.
The global space industry is forecast to be worth more than $1 trillion by 2040. With more than 100 space-related science and technology companies based here, Victoria is well positioned to coordinate national and international collaboration on space and attract global investment.
Investment in transport infrastructure and emerging transport technologies is essential for ensuring Victoria’s liveability and the movement of more goods and people around the state.
Victoria’s reputation as a high quality destination for recreational purposes, major events, business events, and to study underpins growth in this sector, an essential driver of future economic growth.