As part of the Queensland Government's commitment to diversify and strengthen our state's economy and create high-value, knowledge-based jobs, the Queensland Biomedical 10-Year Roadmap and Action Plan ( 1.2 MB) sets out a program to support, grow and attract biomedical enterprises.
By 2027, Queensland will be a regionally integrated and globally competitive Asia-Pacific biomedical industry hub recognised for its excellence in biomedical innovation, highly skilled professional workforce, and world-leading translational biomedical research facilities.
The Queensland Biomedical 10-Year Roadmap and Action Plan is supporting and developing our state's growing biomedical sector through key strategies:
- supporting Queensland start-ups to prosper and successfully scale up
- supporting existing businesses to grow and attract new businesses to Queensland
- promoting capabilities to attract investment and facilitate alliances.
The Biomedical Voucher Program details our progress against the strategies in the roadmap.
Queensland's biomedical sector at a glance
- A$1.87 billion estimated annual gross value added to the Queensland economy
- 11 900 people employed (June Q 2021)
- up to 38% growth forecast to 2027
- global expertise in tropical medicine and infectious diseases
- mature and emerging health and knowledge precincts
- established networks of top-tier industry support services
- expertise in e-health and telemedicine
- two decades of state government investment in science and innovation
- world-class research base, state-of-the-art translational research facilities and hospitals
- home to two of Australia's leading biopharmaceutical contract manufacturers
Why invest in Queensland biomedical industry?
- World-class biomedical ecosystem
- Fast, pragmatic regulatory pathway with rapid ethics approval
- Clinical data complies with top international standards
- Superior scientific talent and excellent research and medical infrastructure
- World-class training, teaching and research facilities
- Highly skilled workforce with strong technical and academic collaboration
- Brain gain: many Queenslanders have returned home with experience in international markets
- Enviable, relaxed lifestyle and world-famous natural attractions
- Lowest median house price in a capital city on the east coast
- Average of 300 days of sunshine annually
- Over 5 million residents with strong population growth and immigration from other states
- Very competitive business costs
- Low payroll tax, high exemption threshold (A$1.1 million)
- Stable economic and political environment and the most decentralised of mainland Australian states
- Over 27 years of economic growth in Queensland and Australia
- Strategic location at the crossroads of the fast-growing Asia-Pacific region
- Five international passenger airports with direct connectivity to global markets
- Advantageous time zone within two hours of many major Asian capital cities
Queensland biomedical industry strengths
Queensland is home to a cluster of agile, innovative and entrepreneurial biomedical businesses. Our pre-clinical and early-phase clinical trial capabilities are underpinned by a world-class research base and state-of-the-art translational facilities.
Existing strengths and emerging capabilities include:
- vaccine development and delivery
- biopharmaceutical contract manufacturing
- microbiome analysis and development
- generic pharmaceuticals
- complementary medicines
- medical devices and diagnostics
- digital health technologies such as:
- connected devices
- remote monitoring technology and point-of-care diagnostics
- wearable devices
Industry support and attraction incentives
Queensland Jobs Fund
The $3.34 billion Queensland Jobs Fund brings together the Queensland Government’s current flagship industry development programs to boost the state’s industry footprint, create jobs and strengthen Queensland’s economy.
As part of the fund, the new Industry Partnership Program will invest $350 million over four years to continue to grow and create jobs across a number of priority industry sectors such as biomedical.
Also under the Queensland Jobs Fund, the Invested in Queensland program is engaging with industry on high impact projects to create jobs now and into the future. Queensland Treasury are working with qualified investors, primarily medium-sized and large organisations, on significant projects that align with the government’s priorities.
The $150 million Advance Queensland Industry Attraction Fund.
We can help your business
Our dedicated teams can assist you with a range of services, programs and incentives to successfully grow your company in Queensland. Get in touch.
Peak industry body
Life Sciences Queensland Limited (LSQ) works closely with all levels of government providing leadership, growth and promotional opportunities for its members.
For more information email email@example.com
Last updated: Tuesday, Jul 27, 2021