Appendix G Economic Study - 14-16 Mary Street, Noosaville - Bounce Hostels 15.6.2018

3.2.2 Operational Phase Impacts
For annual operations, we assume that total expense is $880,000 per year. The
economic impacts by industry are shown in the following table. The impacts are
estimated for the Noosa economy and the wider Sunshine Coast region, as spill-over
effects can be expected. In summary, the annual operational impacts of the proposed
development are estimated to be:

• $1.01m of total impact on Gross Regional Product, comprising:
  • $0.44m in direct economic impacts;
  • $0.57m in flow-on impacts;
• 11 full time equivalent jobs supported, comprising:
  • 7 full time equivalent jobs supported directly; and
  • 4 fully time equivalent jobs supported as flow-on impacts.
As can be seen from the table, the ongoing impacts on the region’s economy are
diverse, with employment benefits spread across nearly all industries. (Only mining is
not impacted.) The dominant impact is in the Accommodation and Food Services
sector, with an estimated 4 full time equivalent jobs supported annually as a result of
the project. This represents 36% of all full time equivalent jobs supported by the
project.
The remaining employment benefits are spread across other industry sectors,
generating a diverse range of employment. This is consistent with the Noosa Shire
Economic Plan’s Focus of Actions, which seeks to:


       “Encourage business growth in sectors that provide a wider range of
       employment options and pay scales” (p. 2).


The project is also able to “leverage local expertise to support the diversification of the
local economy” (p. 12) by building on the competitive advantage of Noosa in the
tourism sector in general.




                                                                DRAFT REPORT V1.2D - Page 19 of 21