Mackay’s resources sector growth is formidable in the state’s mining and energy sector. Recent data from the Queensland Resources Council (QRC) paints a picture of impressive growth and resilience in the region’s resources industry, solidifying its status as Queensland’s top resources pillar.
Rising Employment
Over the 2022-23 financial year, the number of workers in the mining and energy sector in the greater Mackay region increased by a remarkable five percent. This surge in employment opportunities has translated into around 85,000 jobs, accounting for nearly 80 percent of the region’s total employment. It’s a testament to the robustness of the local resources sector and its significance in the lives of Mackay’s residents.
Surpassing Brisbane
What’s even more striking is that the greater Mackay region, encompassing the Isaac and Whitsunday local government areas, now boasts the highest number of people directly employed by the resources sector in Queensland, surpassing even the state’s capital, Brisbane. This is a clear indicator of the region’s vital role in supporting the resources industry.
Economic Contribution
The QRC’s latest Economic Contribution report reveals that the resources sector contributed a staggering $18.4 billion to the Mackay region’s economy in the last financial year, constituting a remarkable 91 percent of the Gross Regional Product. This economic injection underscores how pivotal the resources industry is to the local economy and, conversely, how critical the Mackay region is to Queensland as a whole.
Sustaining Growth
As existing mines approach the end of their operational lifespan, the need for new investments in greenfield resources projects becomes paramount to ensure the continued growth of the sector. These new projects not only drive business opportunities and job creation but also secure a sustainable future for the region and the state.
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Challenges Ahead
However, challenges persist on the horizon. Queensland’s implementation of a three-tiered coal royalties system has raised concerns in the industry. The QRC argues that this move has made Queensland less competitive than neighboring mining jurisdictions, such as New South Wales, which impose lower royalty taxes. To remain globally competitive and continue attracting private sector investments, Queensland needs to carefully consider its policies.
A Campaign for Change
In response to these concerns, the Queensland Resources Council is actively campaigning against the state’s coal royalty regime. The aim is to raise awareness about the importance of the resources sector to everyday life and to emphasize the potential consequences of slower growth in the industry. The campaign serves as a reminder that a strong resources sector benefits not only the industry but also the broader community.
As the campaign unfolds, it seeks to remind Queenslanders of the value that the resources sector brings to their lives. Last year alone, the sector contributed a staggering $116.8 billion to the state’s economy and supported the livelihoods of more than 532,000 Queenslanders.
Mackay’s rise as the epicenter of Queensland’s resources sector is a testament to the region’s resilience and determination. As it continues to attract investments and drive economic growth, it remains a vital asset to both the local community and the state as a whole. The ongoing campaign for a competitive and thriving resources industry in Queensland is a testament to the sector’s importance and the commitment to ensuring its prosperity in the years to come.
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Resources:
australianmining.com.au/mackay-crowned-queenslands-top-resources-pillar
https://www.miragenews.com/mackay-resources-workhorse-for-qld-1130446/
