PERTH (miningweekly.com) – Renewable hydrogen, future-facing minerals processing and shipbuilding and sustainment have been identified as the three industries targeted by the Western Australian government to transform the Western Trade Coast into a Global Advanced Industries Hub following a new report into the strategic and economic significance of the region.
The Western Trade Coast in Perth's southern metropolitan area includes the Australian Marine Complex in Henderson, together with the Kwinana Industrial Area, Rockingham Industry Zone and Latitude 32.
A report, developed by consultants ACIL Allen and AECOM, found the region possessed the critical success factors to provide these three industries with a competitive advantage.
According to the report, the Western Trade Coast is an economically significant region for Western Australia and Australia, providing 122 industrial synergies between current industries, A$14.8-billion in total economic contribution to the Western Australian economy, and A$18.2-billion in total economic contribution to Australia, accounting for around 1% of Australia's gross domestic product.
The Western Trade Coast is also an economic multiplier of 1.68, where for every A$1 invested, there is a A$0.68 spillover to the Western Australian economy, and the region provided 42 900 full-time jobs, indicating the Western Trade Coast directly or indirectly supports just under 3% of Western Australia's total workforce and 32 countries are supplied with products from major tenants in the region.
“The report provides a contemporary profile of industry and the critical success factors that have supported the long-term growth and development of this nationally significant industrial area,” said State Development, Jobs and Trade Minister Roger Cook.
“The study highlights the enormous contribution that industries operating in the Western Trade Coast collectively make to the wealth of the state and its citizens, and the critical link of industry in global supply chains operating within Western Australia, and across the globe.
“Importantly, this study also highlights the opportunities for further economic development, diversification and decarbonisation of the Western Trade Coast, and its transformation into a Global Advanced Industries Hub.
“This will be realised as the state facilitates transformational projects in renewable hydrogen, future-facing minerals processing and shipbuilding and sustainment as target industries for the region,” said Cook.
Global engineering, design and advisory services firm Arup has been appointed to deliver an Infrastructure Strategy for the transformation from the Western Trade Coast into a Global Advanced Industries Hub.
The strategy will deliver a comprehensive approach to optimising the critical success factors of available land, industrial infrastructure, utilities, workforce and leveraging the region's strengths to attract investment.