Toowoomba Bypass pumps billions into economy

THE Toowoomba Bypass project pumped $1.7 billion into the Toowoomba and Australian economy during its construction.

The toll point on the Toowoomba Second Range Crossing during the media preview before opening, Friday, September 6, 2019. Picture: Kevin Farmer

THE Toowoomba Bypass project pumped $1.7 billion into the Toowoomba and Australian economy during its construction.

Deputy Prime Minister Michael McCormack said Australian companies secured 98 per cent of business generated by construction.

"Nexus spent $677 million directly with more than 1000 Australian companies, generating more than $1 billion in additional value through supply chain and consumption effects in the wider economy,” Mr McCormack said.

"It led the state in overall economic impact and the Darling Downs statistical region was the main beneficiary with total value added of $717 million, followed by Brisbane ($550 million) and the south coast ($204 million).

"Nexus also assisted small to mid-sized local suppliers from the greater Toowoomba and Lockyer Valley region with information and events to prepare them for large tenders and, if successful, provided direct experience of a large-scale infrastructure project.”

Queensland Transport and Main Roads Minister Mark Bailey said the project exceeded its target to achieve 76.25 per cent participation in the supply of goods and services by companies based in the region.

"Instead of the projected 1800 direct and indirect jobs, this report shows the (bypass) supported 9260 full-time jobs, with more than 3700 in the Darling Downs region alone,” Mr Bailey said.

"In total, 259 suppliers from Toowoomba and the Lockyer Valley shared 80.5 per cent of the value of all purchases in the three years between January 2016 and December 2018.”

Key economic findings by independent consultant Lawrence Consulting found direct expenditure in Queensland totalled $655 million, or 91 per cent, followed by New South Wales at $28.6 million.

$677 million was spent in purchases from 1001 Australian small to medium-sized enterprises, with an average spend per supplier of $676,721.

Originally published as Toowoomba Bypass pumps billions into economy