WorkinHobart - Invest

Strategic location, growing economy, government incentives – your investment opportunity.

Hobart offers a compelling investment proposition as a regional city with metropolitan-level growth potential. The city’s shift from a traditional industrial economy to a knowledge-based and innovation-driven economy creates unique opportunities across various sectors. Supported by government incentives and infrastructure investments, Hobart provides a stable and attractive environment for investment.

Investment climate

Economic growth foundation

Hobart has experienced steady growth, with employment in Tasmania rising at an impressive rate. Key economic indicators include low unemployment rates (around 4.5% as of 2023), growth in the tourism, healthcare, and renewable energy sectors, and substantial investments in infrastructure. Tasmania's property market also shows promise, with Hobart’s property market experiencing annual growth.

These indicators highlight Hobart as a city in transition, with opportunities for investors who are looking to capitalize on the emerging sectors before they become fully recognised in the market.

Government incentives & strategic support

Regional development programs

Hobart benefits from several state and federal government initiatives designed to boost business investment and regional growth. Tasmania's long-term development plans, such as the Tasmania 2050 Vision and the State Growth Strategy, focus on infrastructure, housing, and employment creation. Funding programs such as the Regional Investment Fund and the Tasmanian Jobs and Growth Fund support workforce development, business innovation, and industry partnerships.

Tasmania development and investment fund (TDIF)

The TDIF provides funding for businesses that wish to invest in Tasmania, offering support in the form of grants for projects that can drive sustainable growth. The fund supports industries such as manufacturing, tourism, and renewable energy, all of which are poised for expansion in Hobart.

Commercial real estate opportunities

Office space & business parks

Hobart offers competitive commercial real estate options with lower rental rates than in larger cities such as Melbourne and Sydney. Modern office spaces and business parks are available across the city, particularly in key locations like the Hobart CBD, the Tasmanian Innovation Hub, and the Macquarie Point development area.

Rental rates in Hobart are highly competitive: Premium office space at $350–$450 per sqm, business park space at $180–$250 per sqm, and industrial/warehouse space at $100–$150 per sqm.

Industrial & manufacturing

Hobart’s strategic location on the Derwent River, coupled with the Port of Hobart’s growing capabilities, makes the city a prime spot for manufacturing, logistics, and export-oriented businesses. The city’s strong transport infrastructure, along with access to skilled workers and government incentives, creates an ideal environment for advanced manufacturing.

Investment sectors

Technology & innovation

Hobart’s emerging tech sector presents exciting opportunities for investors in areas such as fintech, health tech, clean energy, and renewable resources. The Tasmanian Government is focusing heavily on fostering innovation through initiatives like the Tasmanian ICT Innovation Fund, which supports the development of digital technology, software development, and renewable energy projects.

Healthcare & aged care

As Australia’s population ages, Hobart offers significant investment opportunities in healthcare services, aged care, and related industries. These include investments in aged care facilities, medical centres, and allied health services, which are in high demand in Hobart and Tasmania due to an ageing population.

Tourism & hospitality

With its natural beauty and historical charm, Hobart is a growing tourism hub. There are numerous opportunities to invest in boutique accommodation, restaurants, and recreational facilities. Hobart's appeal to both domestic and international tourists continues to rise, creating a thriving market for tourism experiences and event facilities.

Business establishment support

Starting your business

Hobart offers comprehensive support for entrepreneurs and businesses looking to establish themselves in Tasmania. Resources available for business planning, regulatory compliance, workforce recruitment, and supplier connections include support from the Tasmania Development and Investment Fund (TDIF) and the Tasmanian Chamber of Commerce and Industry↗.

Networking & professional development

Hobart’s active business community features several networking organizations and industry associations. Business networks such as the Tasmanian Chamber of Commerce↗, the Hobart Business Network, and the Tasmanian Startup Hub provide opportunities for professional development, connections, and collaboration among entrepreneurs and business leaders.

Hobart’s investment environment offers significant growth potential, supported by strategic government incentives, a diverse business community, and ample opportunities across various sectors. The city’s transition to a knowledge-based economy, combined with its affordable real estate and government-backed support, makes it an attractive destination for investors looking to be part of Tasmania’s future.