Millions pour in through JCU
A REPORT has revealed James Cook University injected more than $ 800 million into Queensland’s economy in a single year.
JCU commissioned The Western Research Institute to undertake an external review of their economic impact in Townsville, Cairns, and across Queensland in 2016.
The report found JCU added about $ 827 million to Queensland’s economy in 2016, up by 41 per cent, or $ 587 million, since 2012.
Within the Townsville region JCU added about $ 622 million in value to the region, an increase of 56 per cent or $ 398 million since 2012.
About 5.6 per cent of Townsville’s gross regional product for 2016 came from the direct and flow- on activities of JCU, up from 4.4 per cent in 2012.
The university has attributed the increase in gross regional product to the relative decline in mining, construction and other sectors since 2012, as well as infrastructure projects on the Townsville campus such as The Science Place and the Australian Institute of Tropical Health and Medicine that have driven large increases in employment.
The report also found the university created 4200 fulltime jobs in the Townsville region in 2016, either directly or indirectly, through spending on its operations and infrastructure. The figure represents 5.6 per cent of all employment in the Townsville local government area.
Vice Chancellor Professor Sandra Harding said the report confirmed JCU’s vital role in the North’s economy.
“JCU’s economic impact goes far beyond its expendi- • $ 622m injection to Townsville economy • About 5.6 per cent of Townsville’s Gross Regional Product came from the direct and flowon activities of JCU in 2016 • 4200 full- time jobs in 2016 equalling 5.6% of all employment in the Townsville local government area. ture on salaries and operations,” she said. “As the university of northern Queensland, we educate and train the region’s professional workforce, which is a crucial catalyst for growth and economic activity.
“As a major employer, educator and generator of economic activity, JCU’s impact on both Townsville and Cairns has increased substantially since 2012, confirming our en- during growing contribution to northern Queensland.”
Professor Harding said JCU had a larger footprint in Townsville because it had operated there for nearly 50 years, but the university’s economic impact in Cairns continued to grow.
“The report shows JCU continues to attract students to the regions of northern Queensland who generate economic activity locally that would otherwise not occur in Townsville and Cairns,” she said.
Western Research Institute chief executive Kathy Woolley said it was great to see any business in regional Australia contributing to the economy to that extent and JCU’s results were not a surprise.
“It’s a long- established business and it’s growing,” she said. “We do know that in regions with universities, they do have a big impact on their regions.”
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