none

QUEENSLAND SUPPLIERS TO SEE SPENDING BOOST

27-03-2018
by 
in 

A survey by the Queensland Resources Council (QRC) involving 27 chief executives from resources companies has found that half plan to spend more in Queensland with their local supplier in 2018 and none plans to spend less. Twenty per cent of those surveyed said they planned to spend “significantly more”.

Ian Macfarlane, chief executive of the Queensland Resources Council, said resources companies spent $6.2 billion – the equivalent of $120 million every week – with almost 9000 businesses across regional Queensland last year. with the resources sector providing one in every $6 for the Queensland economy.

“The resources sector directly employs more than 38,000 Queenslanders, with almost 80 percent of those men and women working in regional Queensland,” Macfarlane said.

“We support and rely upon thousands more staff in the regions where we work to supply equipment, fuel, food, clothing and a full range of services," he said.

The results of the survey follow similar findings from a report by the Productivity Commission in the previous year, with a stabilisation of resource prices leading to improved investment from company executives.

“What we’ve seen from the resources industry as resources prices stay stable, is a confidence in where the production is going and therefore a confidence among the CEOs about how much they can continue to spend in local communities,” explained Macfarlane.

Importantly, not a single supplier said they were likely to reduce their local spending. 

“Not one CEO surveyed said they planned to cut spending with local suppliers this year” said Macfarlane.

“That’s great news for business and jobs in regional Queensland.”

Related news & editorials

  1. 18.01.2019
    18.01.2019
    by      In
    Sydney-based food processing and packaging specialist tna has named Jonathan Rankin as Chief Executive Officer. Having recently returned to tna as Chief Sales Officer, Rankin will now lead tna’s day-to-day operations, while focusing on the implementation of new processes that will take the company’... Read More
  2. 17.01.2019
    17.01.2019
    by      In
    Despite an increased global focus on IoT security, the latest report from security specialist Gemalto reveals that only around half (48%) of businesses can detect if any of their IoT devices suffers a breach. “The state of IoT security” also finds that the proportion of companies’ IoT budgets spent... Read More
  3. 17.01.2019
    17.01.2019
    by      In
    Online entries for the Australian Packaging and Processing Machinery Association Awards of Excellence will close on 26th January, with judging set to begin on 28th January. The award winners will be announced at the Gala Awards Ceremony on 27th March.
    According to APPMA Chairman Mark Dingley, “... Read More
  4. 17.01.2019
    17.01.2019
    by      In
    A group of almost 30 global companies from the plastics and consumer goods sectors have come together to form the Alliance to End Plastic Waste (AEPW), committing more than $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment.... Read More