How Queensland’s resource dollars turbocharge state economy

Posted by Daniel Gleeson on 29th November 2010

century2_wideweb__470x2960.jpgA$707 a second is how much the Queensland minerals and energy resources sector spends on goods and services from Queensland businesses; wages and salaries paid to its Queensland employees, and voluntary community contributions to Queensland communities. This is just a sample of the data available from a new website www. Queenslandeconomy.com.au

 This was being launched in Brisbane by Queensland Resources Council Chief Executive Michael Roche at the peak industry body’s annual lunch in front of the Premier and a record 950 guests. “The beauty of the website is that if you want to know exactly what was spent in your local government area by resources companies in 2009-10, the total spend is there, along with an independent measure of subsequent economic activity generated in that community. All you need is a postcode or town name to get instant results,” Roche said.

The database powering the website is the most sophisticated and accurate compiled by any Australian industry. “In an Australian first, actual spending by QRC member companies was aggregated by postcode and then translated into a full economic picture-including the flow-on benefits of income and job generation-across all Queensland local government areas.

“While a large share of the annual spend on goods and services and wages and salaries occurs in resource communities, it’s revealing to learn how far and wide the economic benefits spread. For example, 423 or 96% of Queensland’s 441 geographic postcodes received at least one dollar in goods and services expenditure in 2009-10.”

Telling 2009-10 statistics from http://www.queenslandeconomy.com.au/:

  • The resources sector accounted for 21% of the Queensland economy
  • It accounted for 13% of Queensland’s total employmen
  • It accounted for 22.7% of Brisbane’s total employment (or 136,600 jobs)
  • It spent A$17.4 billion in Queensland on local goods and services and voluntary community contributions and paid A$4.9 billion in salaries and wages to its employees
  • Its total land disturbance was just 0.09% of Queensland’s land mass
  • Resources sector royalties paid to the Queensland Government could increase from a forecast A$3.2 billion in 2010-11 to A$6.1 billion by 2020-21.

“We often hear that the resources sector is the backbone of our economy, and it is equally apparent now that all Queenslanders have a stake in a healthy and prosperous resources sector.”