Nine clusters can drive WA to prosperous future

Our friends and colleagues at Deloitte WA have laid down an important challenge and started a powerful conversation with the launch of A new WAy.

The economic forecast, without the backing of a tome-sized report, identifies nine clusters of opportunity for WA’s economy and challenges the State’s captains of industry, government and community to create, enable and support the path to billions of dollars in growth and an estimated 75,000 jobs by 2029.

The nine clusters are:

1. Battery supply chain
2. Powered by hydrogen
3. Indigenous-owned business
4. Biodiversity products
5. Our place in space
6. Indian Ocean defence
7. Industry educations
8. Digital operations
9. Integrated energy solutions.

The clusters were discussed, debated and decided by an advisory panel of leaders facilitated by Deloitte Access Economics Partner Matt Judkins. The panel included 12 WA luminaries such as Qantas chair Richard Goyder, WA Senator Linda Reynolds, UWA’s Professor Dawn Freshwater, WA Chief Scientist Peter Klinken and HBF CEO John Van Der Wielen.

Mr Judkins said WA was at an important crossroads where clear choices were needed to turn the challenges of the world into tangible economic opportunities for West Australians.

“It’s fair to say, never before has the world experienced such change at such a rapid pace,” Mr Judkins said.

“Technology, climate change, demographics and geo-politics are redefining our individual and collective place in the world. WA is not immune to these influences.”

The clusters are divided into three categories: natural advantage; right place, right time; and, technology platforms. The opportunities range from biodiversity products to integrated energy solutions.

Two of the cluster opportunities – Indigenous-owned business and battery supply chain – are particularly relevant to Purple and the work of our partners and collaborators.

Noongar Chamber of Commerce and Industry Chair Gordon Cole welcomed the economic forecast and said it supported what Noongar entrepreneurs have been working towards in the development of their businesses.

“We know and understand the importance of Indigenous business as one of the ways that our State economy can continue to grow,” Mr Cole said.

“The time is right for our corporate investors to get on board to support Indigenous business, along with all the other opportunities Deloitte has identified.”

The New Energy Metals and Battery Alliance (NEMBA) is already on the journey to support and foster the development of a sustainable and profitable new energy sector in WA. The NEMBA group will be made up of industry, government and policy makers focused on adding value to the extractive metals sector for battery supply, by securing refining and processing aspects of the path to battery production.

The Deloitte WA team has called on the WA business, government and community sectors to engage with A new WAy and participate in advancing discussions around developing WA’s future prosperity.

You can read more about the initiative HERE.

Purple is the proud PR partner and supporter of NCCI and a founding member of NEMBA. We look forward to participating in the ongoing discussions regarding A new WAy and congratulate Mr Judkins, WA Managing Partner Michael McNulty, and the entire Deloitte team for starting a conversation that matters.

Charlie Wilson-Clark is an Associate Director with Purple and a community and stakeholder engagement specialist, with more than 20 years’ experience and a passion for Indigenous affairs. Contact Charlie.