Resources injects $876 million into Cairns and FNQ economy

New data shows Queensland’s resources sector supported 5790 jobs and contributed $876 million – representing a 93 per cent increase – to the Cairns and Far North Queensland economy over the past financial year.

This includes 1629 direct full-time jobs and 4161 indirect full-time jobs across the electorates of Cook, Barron River, Cairns and Mulgrave.

Queensland Resources Council Chief Executive Ian Macfarlane said this was great news for the region during some very tough times for local businesses and industries heavily impacted by COVID-19 and the downturn in international tourism.

Mr Macfarlane said the latest industry data shows the enormous importance of the resources industry to jobs and the state economy.

“The total number of statewide jobs supported by resources has now reached 420,000-plus, with data showing an extra 50,000 jobs have been added across the sector in 2019-20,” he said.

“Resources also contributed a record $82.6 billion to the state economy in the same period, representing a $5 billion increase on the year before.”

Mr Macfarlane said the latest data shows one in every five dollars and one in six jobs are associated with the resources industry, highlighting the significance of the sector to every Queenslander.

“Statewide, 52,676 people are now directly employed by mining, gas and energy companies and a further 367,493 jobs are supported by our sector, which emphasises the substantial flow-on benefits to the wider community,” he said.

“Jobs are more important than ever as Queensland businesses continue to battle the headwinds of COVID.”

In the Cook, Barron River, Cairns and Mulgrave electorates the resources sector has also supported more than 300 businesses and spent $231 million purchasing local goods and services in the past financial year.

Click here for more detail about the statewide, regional and electorate level data for this region.

Mr Macfarlane said the QRC was urging voters through its Protect Your Job campaign to think about their own job security and to back candidates who support the resources industry at this Saturday’s state election.

“On top of the billions of dollars contributed by resources to the state economy each year, Queensland companies also pay Australia’s highest royalty tax rates, which collected $4.5 billion last year for the state government,” he said.

“This money goes directly into the state budget to fund teachers, nurses, doctors, hospitals, schools and roads so that gives billions of reasons for voters to back candidates who support the resources sector.”

The top 10 Queensland electorates ranked in order of economic contribution to the state economy in 2019-20 are McConnel, Mackay, Burdekin, Gladstone, Gregory, Whitsunday, Clayfield, Cooper, Mirani and South Brisbane.

Video:

Click here for grab from QRC Chief Executive Ian Macfarlane

Images:

QRC Chief Executive Ian Macfarlane  headshot

QRC Chief Executive Ian Macfarlane

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