A $167billion drawcard for businesses to move West
Coat tail job creation is providing countless opportunities
International confidence remains high
At a time when the outlook for some commodity prices appear uncertain, confidence in the Western Australian economy remains strong.
Commerce Minister Simon O’Brien said the November 2012 Local Content Report highlighted offshore companies continued to be positive about the State’s resources sector.
“In the past two years, 85 global companies which specialise in supporting resource project activity have either established themselves in WA or significantly expanded their presence here,” Mr O’Brien said.
Companies from the United Kingdom and the USA each have 16 additional businesses in WA, while Norway has 11 and China has eight.
“The arrival of more international companies brings a number of benefits to the State, including knowledge transfer; research and development activities; and new technologies while opening pathways for future global expansion through trade and network development,” the Minister said.
Of the 85 companies, nearly half are from the oil and gas industry, which consists mainly of project operators, equipment suppliers, service providers, consultants’ services and exploration enterprises. Legal and financial services represented the second biggest sector, while mining and associated services such as project operators and engineering providers were the third biggest group.
“The State Government identified the 85 organisations and found that the most compelling reason for these companies to make such a big investment was in response to the current and predicted growth of the WA economy,” Mr O’Brien said.
The report found that companies also regarded the State as a rapidly emerging global oil and gas hub and the attractions of joint venture partnerships and alliances with local companies. Also, businesses said the strong focus on research and development in this State made a move desirable.
Liberal-National Government local content policies deliver more than 70,000 jobs
Local content on resource projects reaches $30billion since July 2011
Minister’s office - 6552 5800