The resource sector in Queensland has demonstrated impressive resilience and growth, culminating in a revenue of AU$115.2 billion for the last financial year. This sector not only significantly contributes to the state’s economy but also plays a crucial role in community development and job creation.
According to the Queensland Government, the resource sector generated AU$7.9 billion in royalties, underscoring its importance in funding essential public services. Janette Hewson, CEO of the Queensland Resources Council (QRC), noted that many Queenslanders may not have seen mining operations firsthand. However, the sector’s influence permeates local communities, creating a ripple effect that fosters economic stability.
Economic impact and job creation
In examining the sector’s direct spending, a noteworthy AU$35.8 billion was invested in local suppliers, highlighting the commitment to supporting local economies. The resource sector supports nearly 550,000 jobs across the state, equating to one in five jobs in Queensland. Of these, approximately 71,362 positions are direct employment opportunities within the industry.
Wages and salaries
Furthermore, the sector has contributed significantly to wages and salaries, amounting to AU$8.6 billion. This financial influx not only benefits individuals but also sustains local businesses and fosters community development. The leading contributor to this economic impact is coal, which accounts for AU$76 billion of the total revenue, followed by gas at AU$21.7 billion and metals and minerals at AU$13.6 billion.
Community engagement and the Little Bit of Queensland campaign
In recognition of its profound impact, the Queensland government has launched the Little Bit of Queensland (LBOQ) campaign. This initiative aims to raise awareness about the resource sector’s contributions to both the economic and social fabric of the state. It emphasizes that the sector occupies just 0.1 percent of Queensland’s land area while generating substantial funding for essential services such as hospitals, schools, and infrastructure.
The LBOQ campaign aims to share factual information and personal stories regarding how royalties from the resource sector support vital community services. As stated on their website, the campaign’s objective is to provide clear and straightforward information that emphasizes the sector’s role in economic development.
Focus on community development
Moreover, the campaign is driven by a commitment to community engagement and local development. The Queensland Resources Council asserts that through consistent investment in training, apprenticeships, and local events, they are not merely a part of the economy but integral to the fabric of local communities. Their efforts ensure that regional businesses thrive and that job opportunities continue to flourish.
The resource sector in Queensland exemplifies the potential for economic growth and community support. With a focus on sustainable practices and community engagement, the sector is poised to maintain its positive impact on Queensland’s economy and its residents. The narrative clearly indicates that the resource sector will remain a cornerstone of Queensland’s future prosperity.