RECORD SPEND BY RESOURCE SECTOR

Written on the 5 December 2013

RECORD SPEND BY RESOURCE SECTOR

 THE minerals and energy sector was responsible for one in every four dollars in the state’s economy last financial year, according to figures released today by the Queensland Resources Council (QRC).

The 2012-2013 postcode analysis of wages and salaries paid, goods and services purchased and community contributions from 40 of the state’s leading minerals and energy companies reveals a record $37.9 billion spend in Queensland.

Direct spending by resources companies reached most local government areas and generated an additional $37.7 billion in ‘second round value-add’ economic activity, according to an analysis prepared by independent economics experts, Lawrence Consulting.

QRC chief executive Michael Roche says the sector is responsible for almost one in every five jobs.

“Coal industry spending represented just over half the sector’s $37.9 billion cash injection to Queensland in 2012-13 with oil and has ramping up to a 31 per cent share and metals contributing 14 per cent,” he added.

“Oil and gas industry spending of $11.7 billion was a big factor in offsetting the well-publicised cost cutting and investment slowdown in the coal industry.”


Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter