The McGowan Government today released a report into the economic impact of the Minerals Research Institute of Western Australia (MRIWA) that demonstrates the significant value of government investment into Western Australian minerals research.
ACIL Allen’s economic impact assessment found for each $1 invested by government there is at least $3.12 in direct benefits to the State.
The report found that funding for MRIWA, and its corresponding impact on the mining industry, provides a significant boost to the WA economy and enhances our reputation globally in the technology and innovation value chain.
MRIWA’s research program is forecast to deliver $121.5 million in real income benefits to Western Australian businesses, people and government agencies in the next 10 years.
The State Government funded initiative had a portfolio of research projects valued at $37.3 million, in 2017 18, with $22 million co-invested by other parties.
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As stated by Mines and Petroleum Minister Bill Johnston:
“The McGowan Government is committed to supporting minerals research in our State and it’s pleasing that funding for MRIWA provides a significant boost to the economy and creates jobs for Western Australians.
“MRIWA’s research program will create 913 jobs and will deliver an additional $6.6 million in State Government taxes over the next 10 years.
“With MRIWA playing an important role in the McGowan Government’s Future Battery Industry Strategy, our State will continue to be a world-leader in technological innovation in the minerals sector.”
