Stadium builds future prosperity – InfraBuild

From the roar of the crowd cheering a West Coast Eagles goal, to the delirious rapture of fans at sellout Ed Sheeran and Taylor Swift concerts – there’s no doubting Perth’s 60-000-seat Optus Stadium has brought large-scale, world-class sport and entertainment to Perth and the people of Western Australia.

The stadium, which has picked up more than 30 domestic and international design awards – including the recent Prix Versailles World Architecture and Design Award (as the world’s most beautiful sporting arena) – has become the jewel in Perth’s venue crown.

But what of the economic impact of such infrastructure? How can a stadium contribute to a stronger economy?

Recently the stadium owner VenuesWest engaged Deloitte Access Economics to assess the economic impact of the construction of Optus Stadium and its first year of operations.

Since opening 21 January 2018, the stadium – built using almost 30,000 tonnes of InfraBuild provided steel – has hosted more than 75 events, attracting a combined audience of close to 3.5 million.

Immediate benefits
In the report Economic Impact of Optus Stadium, it states the stadium construction, which spanned three years, led to the total employment of 7,000 people, with a peak construction workforce of 1,200;

The ongoing operations and maintenance of these assets continue to support economic activity in Western Australia.

In 2018, a total of $111.3 million was spent on the day-to- day operations of Optus Stadium. A large proportion of these costs were spent in the local economy, with $12.4 million accounting for wages paid directly to staff involved in venue operations. In addition to the 100 permanent operations staff, over 3,200 casual staff worked over 730,000 hours on event days in 2018.”

Long-term economic boost
But the real impact of such a stadium is felt over the long-term.

From an economic perspective, the report estimates the Stadium and surrounding precinct will generate “an additional $653.6 million of Gross State Product in Western Australia” over its construction phase and first 30 years of operation.

“In addition, an average of 231.3 full-time equivalent jobs are expected to be created in Western Australia each year.”

The report estimates an additional 25.6 million people – who otherwise would not have attended an event – will attend sport and live entertainment events over the next 29 years as a result of Optus Stadium.

A place for the people
As impressive as the Stadium’s numbers and estimates are – even the authors of the report admit they only tell part of the story.

“The value of Optus Stadium extends beyond the numbers.”

“It is a place that allows Western Australians to experience sports and live entertainment in a way that has never before been seen in the state. It has created new possibilities in the ways that concerts and other large-scale events are staged in Perth, and it has revitalised and enhanced the weekend sports match experience. Put simply, Optus Stadium is a venue that all Western Australians can be proud of.”