THE Queensland Government's website gives an idea of what it sees as the industries for the future.

Aviation and logistics top the list, followed by biotechnology, communication and information, food, wine, aquaculture and pork. (It would not be Queensland without some primary production.)

The current Labor Government, under Premier Peter Beattie, is placing enormous emphasis on biotechnology.

According to Beattie, Queensland is the Smart State (a tag now shouted from some car numberplates) and determined to be one of the leaders of the biotechnology revolution over the next decade.

"Australia is internationally recognised for its life sciences research, particularly in medicine and agriculture," he says. "From 0.3 per cent of the world's population Australia produces 2.5 per cent of the world's published and patented research . . . Queensland is probably the only place in the world with such megadiverse natural resources plus highly developed infrastructure."

So much for the hype. Despite the Government's best efforts, the reality is somewhat different. According to a recent independent report, Queensland, with nearly 20 per cent of Australia's population, is home to only 1 per cent of the value of Australia's listed biotechnology industry.

The Deloitte Biotech Index report went on to say that 10 percent of biotechnology companies listed on the Australian sharemarket are based in Queensland. Victoria has 37 percent and NSW 24 per cent.

In terms of market value, Queensland's listed biotech sector ranks beside South Australia's and Western Australia's.

In the rush to make up lost ground, Beattie has been actively competing with his Victorian counterpart, Steve Bracks, to attract biotech ventures to the Smart Sunshine State.

Bracks has described Beattie as a visionary and a great premier. "We are working together," he said. "There's a lot to be gained by co-operation."

Perhaps. Some observers recall the bidding wars between the premiers of the 1970s and 1980s for alumina refineries, with the resulting higher electricity prices for consumers. Experts have warned against the danger of interstate rivalries.

Dr Wolf Hanisch, a veteran in the Australian and US biotech industries, believes infighting between states could make Australia a biotech sweatshop for global pharmaceutical companies.

The recent decision to permit limited stem cell research was welcomed by Queensland scientists. Beattie was a strong supporter of the research, which is now likely to proceed at a greater pace.

Away from the biotech flavour-of-the-month, Queensland's population growth will continue to grow, as baby boomers retire and head for the sunshine.

Tourism will be increasingly important and the good old standbys of wool, wheat, sugar, coal and copper will remain important.

To that extent, Queensland's future will be rather like its past.