none
none

ARRIUM CLOSURE TO HAVE DEVASTATING EFFECTS ON JOBS AND ECONOMY

23-05-2016
by 
in 

A recent study has found that any kind of closure of Arrium’s Whyalla steelworks would result in a loss of 5,000 across of South Australia, and cost the state’s economy about $770 million.

The Industrual Transformation Institute at Flinders University found that the Whyalla workforce would decrease by a significant 40% with the closure. 3,940 full time jobs will be lost, with 5,360 jbs being the projected loss.

According to economic models, the regional economy could lose up to $530 million, and a blow of $770 million on SA as a whole.

Professor John Spoehr said his study confirmed Arrium was too important to the state's future to be allowed to fail and government assistance clearly was essential to support continuing steel production.

"The consequences of closure of Arrium would just be devastating for Whyalla, so every effort has to be made to try and secure the operation," he said.

"That on its own won't be enough — it will be important to look at a diversification plan for Whyalla."

The Arrium administrator is hoping taxpayer investment to make the steelworks appealing to buyers.

Related news & editorials

  1. Lots of moneyb
    06.02.2018
    06.02.2018
    by      In
    Confidence continues to rise as Australian businesses predict healthy profits well into the year, according to illion’s latest Business Expectations Survey. The preliminary survey for the June quarter sees the Business Expectations Index rising by 31% over the previous year.
    Business confidence has... Read More
  2. Australian manufacturing
    01.02.2018
    01.02.2018
    by      In
    The inexorable rise of the Australian Performance of Manufacturing Index during 2107 has continued into the new year with production leading the way. The AI Group’s Australian PMI has come in at 58.7 in January 2018, showing an increased level of growth, and the production subindex jumped to 62.7,... Read More
  3. Belgian cement works
    31.01.2018
    31.01.2018
    by      In
    Australian technology company, Calix, has secured EUR3.4 million in working capital from Efic to build the CO2 capture facility for the Low Emissions Intensity Lime and Cement (LEILAC) project in Belgium.
    Efic, the Australian Government’s export credit agency, is a specialist financier that... Read More
  4. Lots of money
    24.01.2018
    24.01.2018
    by      In
    This year looks likely to be the last chance for small businesses to take advantage of the Federal Government’s $20,000 instant asset write-off. So any business with an annual turnover of less than $10 million has until 30th June 2018 to make a qualifying investment.
    The scheme originated in the... Read More