A Business Hunter Economic Update Breakfast held at McDonald Jones Stadium on Friday brought together industry, government and research leaders to examine the Hunter’s economic outlook and transition pathway.
The session marked the first quarterly update for 2026 and centred on newly released Regional Economic Transition Analysis prepared by Oxford Economics for the Net Zero Economy Authority. The research sets out potential transition scenarios for the region and identifies areas for investment, workforce development and economic growth over the next 25 years.
Speakers included representatives from KPMG, Oxford Economics, the Net Zero Economy Authority and the University of Newcastle, alongside Federal Industry and Innovation Minister Tim Ayres.
Workforce and investment pathways in focus
The transition analysis presented at the breakfast placed workforce planning at the centre of the Hunter’s economic shift. It pointed to the need for clear occupational pathways and training responses as existing industries change and new sectors expand.
Discussion also centred on how investment can be directed to support these changes, including identifying priority sectors capable of sustaining employment and contributing to long-term growth.
These themes framed the Hunter’s transition as a practical challenge involving labour markets, infrastructure and industry capability rather than a single sector shift.
National policy direction outlined in Newcastle
In his address at the breakfast, Tim Ayres linked these regional issues to broader national policy, including the government’s focus on energy reliability and domestic manufacturing.
He said industrial capability depends on both energy supply and innovation across workplaces, stating, “Only half of Australia’s innovation happens in laboratories. The other half happens in factories, workshops, mines and hospitals – real workers in real workplaces driving innovation and productivity uplift.”
The address also pointed to federal funding mechanisms such as the National Reconstruction Fund as part of efforts to support manufacturing, infrastructure and industrial capability.
Infrastructure lunch extends the conversation
These themes are set to continue at a Business Hunter Infrastructure Lunch on 20 May at Merewether Surfhouse, where Tim Ayres will again address the region’s role in Australia’s industrial and economic future.
The event, supported by GHD, follows the May 12 Federal Budget and is expected to examine how national priorities in industry, innovation and science are shaping infrastructure delivery and investment in regional economies.
Discussion will include the implications of federal policy for the Hunter’s infrastructure pipeline, as well as how funding programs such as the $15 billion National Reconstruction Fund are being applied to enable manufacturing capability and major projects.
Linking policy to local delivery
The upcoming session is intended to connect national policy settings with on-the-ground outcomes, including workforce development, skills and regional capability. It will also consider how the Hunter is positioned within the broader Future Made in Australia agenda and what this means for future investment.
In his earlier remarks, the Minister pointed to coordinated investment between governments and industry as a pathway to support large industrial users and new energy infrastructure. He added, “I know an economic slam dunk when I see one. And I’m confident my counterparts in the New South Wales Government do as well.”
