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QRC: Greater Mackay reaps $7.6 billion benefit from resources sector

14-Oct-2015 The resources sector contributed $7.6 billion to the Greater Mackay region’s economy in the past financial year according to the Queensland Resources Council’s sixth annual economic contribution report.

The contribution represented more than one third of the gross regional product for Greater Mackay.

The QRC’s report, released today by QRC Chief Executive Michael Roche at Parliament House with Treasurer Curtis Pitt, shows that the resources sector directly employed 8,099 full-time workers in the Greater Mackay region in 2014-15 while a further 44,412 full-time workers were indirectly employed.

When combined the 52,511 full-time employees comprises 53% of the total Greater Mackay work force.

The report, an independent analysis prepared by economics experts Lawrence Consulting, shows the resources sector was responsible directly and indirectly for one in every five dollars in the state’s economy and one in every six jobs.

‘Despite the slump in commodity prices and the ‘disrupt and delay’ tactics of activist groups, it’s heartening to see that a region like Greater Mackay can still have more than half of its workforce employed either directly or indirectly by the resources sector,’ said Mr Roche.

‘These results signal the beginning of a new phase for the resources sector where we have moved out of a record period of capital expenditure in the coal and gas sectors.

‘While we have now settled back into a more normal phase where operational expenditure dominates, the jobs created, the spending dollars generated and the royalties paid to the Queensland Government are still a pivotal part of our economy.

‘The Queensland resources sector remains a tremendous good news story with a strong, ongoing operational future.

‘The Greater Mackay region remains the world’s leading province for production and export of high quality coking coal, so essential to the world’s steel production.’

Mr Roche said the $7.6 billion spent in Greater Mackay represented 36 per cent of its gross regional product.

‘What this means for the people of Greater Mackay is $1.1 billion was paid in wages to 8,099 full-time employees, with more than 44,000 indirect jobs also supported, while $2.8 billion was spent locally on goods and services,’ he said.

“This supported 5,440 local businesses while resources companies made contributions to 134 community organisations in Greater Mackay.

‘Resources companies in Greater Mackay also made a significant contribution to the $2.1 billion in royalties to the state government, which was spent on vital services such as schools, roads and hospitals for the benefit of all Queenslanders.’

Mr Roche said all of these contributions were achieved by disturbing only 0.1 per cent of the state’s land mass, while observing world-class environmental standards.

Greater Mackay’s input was part of the $64.8 billion contribution by the resources sector to Queensland’s economy in 2014-15.

Media contacts: Angela Harper 0414 712605 or Ian Eckersley 0432 754897

QRC Greater Mackay Report QRC Greater Mackay Report (507 KB)