CLIVE PALMER'S planned central Queensland coal project would have a devastating economic impact including the loss of 3000 jobs in manufacturing, agriculture and tourism, according to a new assessment.
The planned project, called China First would produce about 2500 jobs in construction but could strip $1 billion from manufacturing and force small and medium-size business to pay higher wages to compete.
The project would include a coalmine, railway and port facility to export quality thermal coal to international markets.
Canberra-based think tank The Australia Institute found China First's impact on the local economy would include a rise in wages and rents, translating to higher costs of production and a reduction in profits for local businesses.
About 2200 jobs would be stripped from the manufacturing industry while 55,000ha of grazing land would be bought up for the mine. About 4600ha of acacia and eucalypt woodland would be cleared.
Courier Mail
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