Report outlines economic benefits of naval shipbuilding in South Australia

The Australian defense industry minister has launched the Pricewaterhouse Coopers (PwC) Australia’s report which outlines the economic benefits naval shipbuilding is expected to have on South Australia.

This report estimates some 3500 direct shipbuilding jobs and an overall 8000 new jobs would be created in South Australia over the coming decades.

“This PwC report illustrates just how beneficial to the South Australian economy the Turnbull Government’s $90 billion Naval Shipbuilding program will be,” defense industry minister Christopher Pyne said.

“This is great news for South Australians currently working in the shipbuilding industry as well those wanting to find work within the industry in the coming years,” Pyne said.

“The shipbuilding aspect of programme alone will triple the South Australian workforce and boost Gross State Product (GSP) by $134.4 billion over the next 40 years.

“The report also states that for every $10 million in expenditure in South Australia directly related to shipbuilding, there is a total of $24 million in additional gross state product,” Pyne said.

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