ECONOMIC BENEFITS
The economic benefits of the proposed GKI Revitalisation are substantial to the Central Queensland economy. Upon completion, the Resort would be one of the largest employers in Central Queensland.
The redevelopment of GKI is forecast to deliver $592.5 million in development expenditure, add over $82 million to the local economy in the form of expenditure on the Island (plus additional expenditure off the Island while in transit) and create around 1,500 full time, part time and casual jobs during construction and operation.
The range of industries that would benefit economically from the project would include the tourism operators, building and construction industries, financial planners, landscapers, nurseries, interior designers, wedding planners, photographers, accountants, marine services, etc.
The forecasted economic impacts of the GKI Revitalisation Plan are that it will deliver:
- An estimated final development cost of $592.5 million
- Tourist expenditure contributing over $82 million per annum to the local economy.
- Around 1,055 full time, part time and casual jobs generated in the Capricorn Region once Great Keppel Island is fully operational
- Creation of an average of 350 construction–related jobs each year during the 15–year construction period, with total full time equivalent jobs generated representing 5,400 person years of employment
- Once fully operational, an estimated base of 685 full–time equivalent jobs on the Island plus additional workforce in periods of high demand
- Through flow–on or multiplier effects, the creation of around 400 additional full–time equivalent construction and operational jobs on the mainland, predominantly at Rockhampton and Yeppoon
- Privately–funded infrastructure development provided at no cost to Government.
- A substantial increase in total visitor days in the Capricorn Region.
- Diversification of the Capricorn Regional economy through promoting regional tourism as an industry, and making the region less reliant on the commodity price–driven mining and agricultural industries.
- Significant increases in local and state government revenue through rates, headworks charges, property transaction duties, land tax and payroll tax.
