Economics expert: Adani deal 'a major success' for Rocky
ROCKHAMPTON'S selection as one of two FIFO hubs for the Adani Carmichel Mine is a shot in the arm for the region's economy, an expert says.
CQUniversity Economics Professor John Rolfe said the Adani announcement was important because it confirmed Rockhampton as a key base for the mining sector.
"This is likely to be strategically significant in the future as other developments in the Galilee Basin or Bowen Basin go ahead,” Prof Rolfe (pictured) said.
"The announcement also represents a major success for the Rockhampton Regional Council, demonstrating how active support from a local council can deliver economic development opportunities for the region.”
He said the Central Queensland region would provide a solid base for the development in the Galilee Basin.
This was because of "the depth of skill and experience that the local workforce has in mining and construction, with long involvement in the Bowen Basin and the Gladstone LNG construction”.
"Basing a FIFO operation from Rockhampton will mean that a lot of local families can remain in the area, and provide a platform of stability and growth into the Central Queensland communities, not just Rockhampton,” Prof Rolfe said.
"It is likely that the direct workforce benefits will also extend to the Capricorn Coast and Gladstone, while the indirect benefits will be much more widely spread.
"For every new job that is created, about another 2.5 jobs are created or supported in the local community.”