MacroPlan Australia, an internationally recognised national multi-disciplined company, completed an economic impact assessment of the entire Project, including the expenditure and infrastructure already completed. The assessment results include:
- MacroPlan has estimated that the total economic impact in Net Present Value (NPV) terms of the Shell Cove project will be equivalent to $3.71 billion over a 20 year period from 2007, comprising $2.37 billion in construction and maintenance and $1.37 billion in visitor and resident generated expenditure.
| | Total: Years 01-20 | NPV ($ millions) |
|---|
| | Construction Expenditure | $1,433 |
| | Maintenance Expenditure | $933 |
| | Resident Expenditure | $1,332 |
| | Tourist Expenditure | $39 |
| |
Total Expenditure | $3,710 |
- The economic impact from the operational phase has been estimated at $2,303 million over the 20 year period, equating to $115 million per annum.
- The breakdowns of employment on a direct and indirect basis and the expenditure impact of construction and visitor activity are.
| | Jobs (Full Time Equivalent) |
|---|
| | Direct | |
| | Construction Employment (p.a.) | 1,075 |
| | On-going Maintenance Employment (p.a.) | 408 |
| | Resident Generated Employment (p.a.) | 1,160 |
| | Visitor Generated Employment (p.a.) | 44 |
| | Direct Employment | 2,687 |
| | | |
| | Indirect | |
| | First Round Effect | 781 |
| | Industrial Support Effect | 566 |
| | Consumption Induced Effect | 2,103 |
| | Indirect Employment | 3,451 |
| | | |
| | Supported Employment | 1,249 |
- The estimate of supported employment of 1,249 is based on the floorspace supplied across the retail, commercial and business park (ie, campus style office) development. This represents a significant increase in employment for the Shellharbour local government area.
MacroPlan concluded:
- The Shell Cove Boatharbour project represents a major investment in the local area of Shell Cove and the Shellharbour City region.
- The benefits include:
- A major ongoing construction program across a number of different residential and commercial products supporting spending and employment multipliers throughout the region.
- The offer of a wide range of residential dwellings not typically offered in the area.
- The provision of local jobs in retailing, hospitality and commercial activities for local residents encouraging sustainable private commuting behaviour.
- The Shell Cove Boatharbour project will contribute to the establishment of a sustainable regional economy within the City of Shellharbour through new expenditure from residents and tourists.
- The project will further develop a focus for tourism within the region. The provision of a hotel with conference facilities as well as the golf course development is likely to attract delegates and businesses looking for a unique experience in an attractive recreational location.
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