- Three target industries identified to support
transformation of the Western Trade Coast into a Global Advanced Industries Hub
- Industries are renewable hydrogen, future-facing
minerals processing and shipbuilding and sustainment
- Follows release of a report into strategic and economic
significance of the Western Trade Coast
- Arup to deliver Western Trade Coast
Infrastructure Strategy as part of region's transformation
The McGowan
Government is targeting three industries to transform the Western Trade Coast
into a Global Advanced Industries Hub following a new report into the strategic
and economic significance of the region.
The
Western Trade Coast in Perth's southern metropolitan area includes the
Australian Marine Complex in Henderson, together with the Kwinana Industrial
Area, Rockingham Industry Zone and Latitude 32.
The
report, developed by consultants ACIL Allen and AECOM, finds the region possesses
the critical success factors to provide three industries with a competitive
advantage.
The
three industries are renewable hydrogen, future facing minerals processing and
ship building and sustainment.
The State
Government has endorsed these industries for the region, which are aligned to
the State's targeted diversification agenda, as outlined in the Diversify WA
framework.
Global
engineering, design and advisory services firm Arup has been appointed to
deliver an Infrastructure Strategy for the transformation from the Western
Trade Coast into a Global Advanced Industries Hub.
The
strategy will deliver a comprehensive approach to optimising the critical
success factors of available land, industrial infrastructure, utilities,
workforce and leveraging the region's strengths to attract investment.
The
Department of Jobs, Tourism, Science and Innovation is leading this program of
works as part of the WA Government's priority to develop strategic industrial
areas across the State to achieve economic diversification and job creation.
In
addition to the industries identified, an online interactive tool has been developed
to visually demonstrate the industrial capabilities, synergies and
international reach of the region.
According
to the report, the Western Trade Coast is an economically significant region
for Western Australia and Australia, it provides:
- 122
industrial synergies between current industries;
- $14.8
billion in total economic contribution to the WA economy;
- $18.2
billion in total economic contribution to Australia, accounting for around
1 per cent of Australia's Gross Domestic Product;
- An
economic multiplier of 1.68, where for every $1 invested, there is a $0.68
spill over to the WA economy; and
- 42,900
FTE jobs, indicating the Western Trade Coast directly or indirectly
supports just under 3 per cent of WA's total workforce and thirty two
countries supplied with products from major tenants in the region.
Further
information on the Global Advanced Industries Hub, as well as the report and
online interactive tool can be found at: https://www.investandtrade.wa.gov.au/opportunities/global-advanced-industry-hub/western-trade-coast
Comments
attributed to State Development, Jobs and Trade
Minister Roger Cook:
"The report provides a contemporary profile of industry and the critical
success factors that have supported the long-term growth and development of
this nationally significant industrial area.
"The study highlights the enormous contribution
that industries operating in the Western Trade Coast collectively make to the
wealth of the State and its citizens, and the critical link of industry in
global supply chains operating within Western Australia, and across the globe.
"Importantly, this study also highlights the
opportunities for further economic development, diversification and
decarbonisation of the Western Trade Coast, and its transformation into a
Global Advanced Industries Hub.
"This will be realised as the State facilitates
transformational projects in renewable hydrogen, future facing minerals processing and
shipbuilding and sustainment as target industries for the region."
Minister's office - 6552 6500
