Results of an Economic Impact Study indicate that the Queensland Mining & Engineering (QME) Exhibition delivers significant economic benefits to the Mackay region and the state of Queensland.
Announcing the study, Paul Baker, Director of REEDMININGEVENTS, organiser of the QME Exhibition said that the results were exciting and highly encouraging, and vindicated the rationale of holding a regional mining exhibition of this size in the heart of Queensland’s mining sector.
The report provided a breakdown of economic figures for the Mackay region, Queensland and Australia, demonstrating the significant economic benefits of the biennial mining exhibition.
In the report, the total economic outlay and spend within the Mackay region was $36.2 million, which consisted of expenditure by the organisers and exhibitors, and indirect spending by attendees. This outlay on QME resulted in an estimated increase to Mackay’s Gross Regional Product of $17.1 million and $31.3 million for Queensland.
As a result, QME 2012 generated over $220 million in direct sales for exhibitors and $584.7 million in total sales, within the state of Queensland.
According to Paul Baker, QME has been a biennial fixture on the Mackay calendar for over 21 years since its inception in 1993; however, up until the completion of this report there has been no concrete, external or expert evidence about the economic benefits of the exhibition to the region or the state.
Mackay Regional Council Mayor Deirdre Comerford said the report was encouraging and clearly displayed the significant boost the event injected into the Mackay region.