Investment Climate
Business investment in NSW reached $39.5 billion in the 2005-06 financial year, a rise of 9.2% compared with the previous year. Over the same period NSW represented 28% of Australia's total business investment.
Capital spending on machinery and equipment by NSW businesses rose by 8.3% to $20.5 billion, encouraged by high levels of capacity utilisation and strong profitability.
Engineering and commercial building construction reached $14.1 billion in the 2005-06 financial year, an increase of 12.4% over 2004-05.
Businesses in NSW also increased their spending on intangible fixed assets, mostly in computer software and mineral exploration, with an investment of $4.3 billion, up by 7.7% in 2005-06.
Since April 1999, the Department of State and Regional Development (DSRD) has facilitated over $10.1 billion in new private sector investment, and helped to create and retain more than 49,100 jobs. This includes 29,600 jobs and over $6.3 billion worth of investment in regional NSW.
Read more about this topic: Economy Of New South Wales
Famous quotes containing the words investment and/or climate:
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“Russian forests crash down under the axe, billions of trees are dying, the habitations of animals and birds are layed waste, rivers grow shallow and dry up, marvelous landscapes are disappearing forever.... Man is endowed with creativity in order to multiply that which has been given him; he has not created, but destroyed. There are fewer and fewer forests, rivers are drying up, wildlife has become extinct, the climate is ruined, and the earth is becoming ever poorer and uglier.”
—Anton Pavlovich Chekhov (1860–1904)