Boeing’s thriving Australian operations injected $1.3bn to the country’s GDP in 2016, according to report
Boeing Australia has released a report outlining the breadth, scale and economic impact of its operations in the county.
The report, which is based on 2016 data, was compiled by BIS Oxford Economics and commemorates Boeing’s 90th anniversary in Australia.
Marc Allen, president of Boeing International, said the company has contributed nearly $1.3 billion to the Australian economy in 2016, supporting more than 9.300 jobs through its high-tech operations across the country.
“As Boeing’s largest presence outside of the US, Australia continues to model how we will grow globally in the future,” Mr Allen said.
“I describe our Australian operations as ‘the gold standard’ in terms of creating a winning ecosystem comprised of our employees, suppliers, research partners and community organisations that are second to none.”
According to the report, Boeing spent $400 million across its vast Australian supply chain consisting of about 1,500 companies, half of which are Small to Medium Enterprises (SMEs).
Additionally, the company invested $47 million in various Australian R&D activities with CSIRO, QUT and RMIT on projects including autonomous systems, composite fabrication, materials development, mission systems, robotics, simulation and analytics.
“What this economic impact report shows is that the investments Boeing has made in Australia continue to pay dividends,” said Maureen Dougherty, president of Boeing Australia, New Zealand and South Pacific.
“Boeing is proud of the work we do here – as an advanced manufacturing and R&D centre, a trusted partner for the Australian Defence Force, a supplier of advanced commercial aircraft to Australia’s airlines, and as a growth engine for Australian industry and the economy. With a legacy dating back to 1927, Boeing is well-positioned to remain Australia’s leading aerospace company for many years to come.”
Defence Industry Minister Christopher Pyne welcomed the release of Boeing Australia’s report and acknowledged the company’s contribution to the ADF capability and the Australian economy through investment and the creation of jobs.
“Since 2013, Boeing’s defence team has grown by 750 jobs,” Minister Pyne said.
“This growth has been good for Boeing Australia and for Australia’s many small and medium enterprises.”