Boeing injected $1.3b to Australian GDP in 2016

A BIS Oxford Economics report highlights the breadth and scale of the leading aerospace company’s growth in this part of the world. Based on 2016 data, Boeing generates nearly $1.3 billion for the Australian economy and supports more than 9,300 direct and indirect jobs through its high-tech operations including advanced manufacturing, defence, research and development, training and support, and unmanned systems.

“As Boeing’s largest presence outside of the US, Australia continues to model how we will grow globally in the future,” said Marc Allen, president of Boeing International. “I describe our Australian operations as ‘the gold standard’ in terms of creating a winning ecosystem comprised of our employees, suppliers, research partners and community organisations that are second to none.”

Boeing has invested more than $1 billion in its Australian operations in recent years, with many of Boeing Australia’s 3000-plus employees providing services and support for Boeing-built commercial and military aircraft that have been exported to Australia. Allen noted Boeing’s special role in the US-Australia relationship, with manufacturing and engineering jobs in the US and a local aerospace and defence capability in the Commonwealth.

Boeing’s Australian supply chain is extensive. In 2016, Boeing spent more than $400 million with more than 1,500 Australian suppliers across all states and territories. More than 50 per cent of those companies are SMEs, which represent a critical business segment of Australia’s economy.

Boeing invested $47 million in Australian research and development activities at Boeing facilities and with Australian research partners like CSIRO and at universities including the University of Queensland, Queensland University of Technology, and RMIT. Areas of research include autonomous systems, composite fabrication, human factors, materials development, mission systems, robotics, simulation and analytics, and virtual reality.

“What this economic impact report shows is that the investments Boeing has made in Australia continue to pay dividends,” said Maureen Dougherty, president of Boeing Australia, New Zealand and South Pacific. “Boeing is proud of the work we do here – as an advanced manufacturing and research and development centre, a trusted partner for the Australian Defence Force, a supplier of advanced commercial aircraft to Australia’s airlines, and as a growth engine for Australian industry and the economy. With a legacy dating back to 1927, Boeing is well-positioned to remain Australia’s leading aerospace company for many years to come.”