14 Oct Tasmania – Economic Development Strategy
“The Department of Economic Development, Tourism and the Arts (TAS) contracted Compelling Economics to provide key economic modelling and advice during the development of the Economic Development Plan. This economic modelling is provided via REMPLAN, an economic modelling and analysis system, which provides area-specific industrial economic data combined with dynamic economic impact modelling capability.
REMPLAN is based on a region specific input-output model. Place of work employment data from the Australian Bureau of Statistics (ABS) Census is the basis upon which industry size and composition is estimated at the regional scale. ABS national accounts data is then applied to the employment profile in order to estimate the value of output by industry and the proportions of output spent on wages and salaries. Place of work employment data is the basis in REMPLAN for estimating local demand by industry for intermediate goods and services as well as the capacity for the local economy to supply a proportion of those goods and services.” Source: www.development.tas.gov.au/economic/economic_development_plan/achieving_our_vision/goal_two/data_concepts,_sources_and_methods
Tasmania’s economic Development Strategy provides many example for how REMPLAN data and analysis can be applied to provide valuable economic insights:
Food and Agriculture – Wine: www.development.tas.gov.au/__data/assets/pdf_file/0004/46966/Industry_Summary_Wine.pdf
It is important to note that Compelling Economics built a customised REMPLAN model of the Tasmanian economy to provide the Department of Economic Development, Tourism and the Arts (TAS) with information on particular ‘non-standard’ industries including the ‘salmon’ and ‘wine’ sectors
To view the full Tasmania Economic Development Strategy please follow this link: www.development.tas.gov.au/economic/economic_development_plan
To discuss our work with the the Department of Economic Development, Tourism and the Arts (TAS) please don’t hesitate to contact the team at Compelling Economics on: 03 5444 4788 or 1300 737 443
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