25/06/2009 - 10:04

Geraldton Port trade worth $2.3bn

25/06/2009 - 10:04

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The Geraldton Port is responsible for facilitating significant levels of trade for the state, conservatively estimated to be worth $2.3 billion a year which is tipped to grow up to 20 per cent.

The Geraldton Port is responsible for facilitating significant levels of trade for the state, conservatively estimated to be worth $2.3 billion a year which is tipped to grow up to 20 per cent.

The figures were revealed as part of a study by Economics Consulting Service that was released today at the annual Western Australian Port Authorities' Association Conference currently taking place in the Mid West's regional centre.

 

Full announcement below:

 

The Geraldton Port Authority released a study today undertaken by Economics Consulting Services that quantifies the enormous contribution made by the port to the Mid West and Western Australian economies.

The report, released at the Western Australian Port Authorities' Association Conference, revealed that the Geraldton Port facilitated trade worth an estimated $2.3 billion a year.

Businesses associated directly with activities in the port generate State-wide impacts with output valued at $450 million, producing around 1,900 jobs. It is estimated that two thirds of this value remains in the Mid West region, generating 10% of the jobs in Geraldton.

GPA Chief Executive Officer Peter Klein said the report highlighted the significant role the Geraldton Port plays in the economies and people of the Mid West and WA as a whole.

"These total output figures take into consideration both our day to day operations as well as capital works such as dredging, construction of wharves, sheds and loading facilities or the infrastructure that support these activities," Mr Klein said.

"Importantly, within the region, the port supports the key mining and agriculture sectors which contribute over 70% of the gross value of production, relying on exports through the Geraldton Port for their existence."

The report's authors said they had used a conservative approach to estimating economic impacts so the impact of the Port was not overstated.

"The numbers quoted are based on 2007-08 financials and with increased trade this year, the authors tell us the economic impact is likely to have increased by 15 to 20% over the estimates in the report," Mr Klein said.

"Significantly, the analysis does not include the value of the port in reducing transport costs in and out of the region. If we were not here, transport costs would be substantially higher, increasing farm and business costs and therefore reducing the level of such activity."

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