Economic Returns

Estimated expenditure of $460 million will be injected into the Western Australian economy and directly support 648 jobs. Expenditure and investment will come from construction and maintenance on the site as well as goods and services required for everyday living by new residents and visitors to the cultural facilities. Over 20 years, residential expenditure is anticipated to be more than the net present value of $250 million.

The multiplier effects of the new resident and construction expenditure will generate direct and indirect employment. In the first five years, direct employment is expected to be 203 jobs per year and a further 445 jobs per year in the next 15 years. Indirect jobs created should be 2,300 over the life of the project.

On the basis of a major civic and cultural use, 300,000 people can be expected to visit the site, spending approximately $35.6 million per annum or $408 million over the forecast 20-year development of the site.

Other positives include increasing land values on site and in surrounding areas, savings from the use of public transport, reduced vehicle ownership and more.