An economic report released by the Civil Contractor Federation National (CCF National) found that additional funding is needed to generate economic and employment growth in Australia’s post-COVID economy.
Titled ‘Rebuilding Australia, A Plan for a Civil Infrastructure Led Recovery’ the report found that civil construction was central to economic with economic return for infrastructure investments generating a 3:1 return.
Chris Melham, CEO of CCF National, said, “7.2 workers are employed for every $1 million invested. So, a $250 million investment in a road, rail, bridge, utilities or port project would generate approximately 1800 jobs.”
The report stated that boosting civil constructions GDP from 3.8 per cent to 4.1 per cent would generate 11,100 jobs while boosting GDP contribution to 4.5 per cent would create 36, 100 jobs.
The report proposes solutions such as improved planning and risk management, streamlining and reforming tendering processes with a greater focus on skills and training.
“Action across these areas is critical if we are to harness the productive capacity of the civil infrastructure and maximise the economic benefit to the Australian economy, and CCF therefore looks forward to continuing its constructive dialogue with government at all levels to implement the findings of this report,” said Melham.