Gladstone Region has punched above its weight in the resource sector with Queensland Resource Council figures released today stating Gladstone’s total economic contribution to the region’s economy was $1.9 billion in the 2016/17 financial year.
Gladstone Engineering Alliance Chief Executive Officer Carli Homann said Gladstone’s contribution to the Queensland and Australian economy shows Gladstone is currently the engine room of Queensland’s prosperity.
“In 2016/17, the minerals and energy sector in Gladstone contributed $333M in wages and salaries to 2,881 direct fulltime employees,” Ms Homann said.
“Those wages then contributed to approximately $554M in purchases of goods and services from local Gladstone businesses including contractors, community contributions and local government payments.”
Ms Homann said figures indicate approximately 460 Gladstone businesses and 22 community organisations benefited directly from the resource sector.
“In addition that local spend and employment supported 8222 full time employees in Gladstone with a value add of approximately $998M through local business and employee spend,” she said. “In total Gladstone’s economic contribution to the region’s economy was $1.9 billion in the 2016/17 financial year which supported 11,103 full time employees.”
Ms Homann said the figures show Gladstone’s resource sector and supply chain has significant and positive economic impacts across the entire region benefiting all Queenslander’s.
“The results of the analysis demonstrate that incomes and expenditures from the minerals and energy sectors are widely distributed across the Gladstone region generating significant flow-on effects.
“However, traditional economic techniques understate the true contribution of the minerals and energy sector as they do not attribute the output from related sectors such as construction, rail transport, utilities, professional services, manufacturing and contract workers,” Ms Homann said.
“The GEA is a membership based organisation and we have a wide variety of businesses that work within the resource sector supply chain. We are committed to ensuring our local engineering, manufacturing and supply services will survive, adapt and prosper and even though the figures are impressive, I would like to encourage further investment and promote the vital need for new and upgraded infrastructure in our region.”