Resources – the Economic Backbone of our Region
Posted on August 9th, 2016
The highs and lows of Resource activity across Queensland is regularly featured across national media – with the outstanding question being “do we take the resources sector for granted?”
Attending a number of strategic forums and meetings conducted by the Queensland Resources Council (QRC) and Qld. Local Content Leaders Group in Brisbane last week, Capricorn Enterprise Economic Development Manger Neil Lethlean states that now, more than ever, regions across the State need to support the resources sector in an effort to maintain regional economic stability and social wellbeing.
Mr Lethlean states that by working closely with regional business it is very obvious that resource activity is a central part of regional economies and community wellbeing, as well as annually providing mega $$$millions to the State coffers through royalties.
As one of eight state wide QRC Regional Partners, Capricorn Enterprise understands the importance of resources across the State and in particular the Fitzroy (State) and Capricornia (Federal) regions, not only in economic terms but importantly as it relates to community contributions.
As examples, in 2014 – 2015 the Queensland resources sector contributed $356M in royalties to State “coffers” whilst attributing:
All of which is achieved utilising only 0.1% of the Queensland’s land mass!
Across the Fitzroy region, over the same period, Qld resources accounted for:
- $1.1B in wages paid to 8,530 full time employees;
- $4.5B spent on goods and services and community contributions, benefiting –
- 4352 local businesses and 325 community organisations, plus
- Contributing 54% of Fitzroy’s total gross regional product!
For the Capricornia Federal Electorate resources during 2014-2015 provided:
- $930M in direct wages to 6422 full time employees spent on goods and services plus community beneficiaries, with the flow on benefits being;
- 28,057 additional full time employees with an additional value add of $2.2B.
All of this benefit is achieved by utilising less than 1% of the regions land mass!
For more detail visit: https://www.qrc.org.au/