AuScope boasts $15 of benefit for every $1 spent according to Lateral Economics
Indicative economic assessment of AuScope to the national economy between 2007 — 2014. Image: AuScope (using Lateral Economics data)
In 2016, AuScope commissioned Lateral Economics (LE) to develop an impact assessment of our programs between 2007 — 2014. The assessment included the impact that AuScope delivered to participants, stakeholders and broader beneficiaries. It also addressed expectations of future impact and benefit.
LE found that research and other use resulting from AuScope-related physical and data infrastructure is tremendously diverse, and that key, and reasonably distinct areas of impact influenced by AuScope include fundamental Earth science, natural resource exploration, spatially sensitive industries, natural and built environment, and international tools and data.
LE suggests a net benefit to Australia from AuScope between $2.3 — 6.2B AUD, with the best estimate of $3.7B AUD (net present value in 2015 — 16 terms, over the period to 2040 — 41):
“A net benefit of $3.7 billion is equivalent to $15 of benefit for every $1 in economic cost— a substantial return on investment, and consistent with other economic assessments of similar initiatives, in Australia and the United States.”
AUTHORS
Jo Condon, AuScope
MORE INFORMATION
This story summarises the report titled ‘AuScope Infrastructure Program –Evaluation of Impacts’ by Lateral Economics in August 2016. Read it: