The NSW Minerals Council’s latest annual member company Expenditure Survey has found that the 28 participating mining companies directly injected $667 million into the Illawarra economy in 2017/18, supporting thousands of jobs and generating millions in additional spending across the region, particularly in local mining communities.
“These survey results show that mining’s contribution to the Illawarra economy remains strong, with jobs and the number of local business supported by our members remaining steady,” NSW Minerals Council CEO, Stephen Galilee said today.
This direct spending is estimated to have contributed 7.9 percent of the Gross Regional Product of the Illawarra economy in 2017-18.
This $667 million in direct spending in 2017-18 included $166 million in wages for 1,513 full-time employees, and nearly $500 million in purchases from 690 local businesses, along with community contributions and payments to local government.
The survey found that direct mining spending in the Wollongong Local Government Area (LGA) totalled nearly $406 million in 2017-18, including $114 million in wages to 1,019 full-time employees. Purchases with local businesses totalled $292 million supporting 490 local businesses.
Across NSW surveyed companies directly spent $10.7 billion in 2017/18 an increase of $300 million compared to the previous year. This direct spending included over $3 billion in wages to more than 24,000 employees and $5.6 billion on the purchase of goods and services from 7,135 local businesses.
This survey, now completed for a seventh year, confirms that the Illawarra continues to depend on mining activity for local jobs, investment and economic growth. The challenge for whoever forms government at the March will be to implement the right policy settings for mining so our industry can deliver more jobs, more opportunities, and better times for our Illawarra mining communities over the long term.
Stephen Galilee - NSW Minerals Council CEO
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