Boeing says it generates $1.3 billion to Australian economy

Boeing says its Australian operations reflect the “gold standard” in how the company aims to work with suppliers and partners around the world.

The aerospace company has published the findings from a study by BIS Oxford Economics that shows Boeing contributed about $1.3 billion to Australia’s gross domestic product (GDP) in calendar 2016 through its 38 locations across the country covering commercial aircraft, defence, services and research and training.

Further, its Australian operations supported 9,300 jobs, comprising Boeing’s 3,000 own employees and staff at the 1,500 companies in its Australian supply chain. Of those, half are small and medium sized enterprises.

“As Boeing’s largest presence outside of the US, Australia continues to model how we will grow globally in the future,” Boeing International president Marc Allen said in a statement on Wednesday.

“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 in the Australian economy. (Boeing)
Boeing in the Australian economy. (Boeing)

Boeing Aerostructures Australia makes parts for the commercial 777, 737 and 787 product lines at its Melbourne facility. Australia’s two biggest airline groups Qantas and Virgin Australia are both customers of Boeing Commercial Airplanes.

Meanwhile, the Australian Defence Force operates a number of Boeing aircraft, such as the P-8A Poseidon maritime surveillance aircraft and EA-18G Growler electronic attack aircraft. Boeing Defence Australia also has 14 locations across the country supporting the ADF.

The company, which is celebrating 90 years in Australia in 2017, also provides training and professional services through its Boeing Global Services business unit and works with universities and government bodies on research and development (R&D) projects.

Boeing said it racked up $400 million in supply chain spend in calendar 2016 and generated $450 million in exports.

Further, the company has invested $1 billion in its Australian operations.

“What this economic impact report shows is that the investments Boeing has made in Australia continue to pay dividends,” Boeing Australia, New Zealand and South Pacific president Maureen Dougherty said in a statement.

“Boeing is proud of the work we do here – as an advanced manufacturing and R&D 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.”

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