21st Century Security
Australia News Releases
ADELAIDE, 17 May, 2021 – Lockheed Martin Australia’s significant contribution to the South Australian economy has been revealed with new figures announced today by South Australian Premier, Steven Marshall.
Speaking from Lockheed Martin Australia’s Mawson Lakes facility, Premier Marshall announced figures produced by independent advisory firm AlphaBeta showing Lockheed Martin Australia had:
- Supported 1,232 jobs across South Australia in 2019 (with 465 directly employed);
- Contributed $103 million to South Australia’s gross state product in 2019, with $63 million from company operations, $27 million from supply chains and $13 million from employee induced spending;
- Spent $61 million across 79 South Australian suppliers in 2019, of which 67% were SMEs;
- Generated $72 million and 760 jobs in total from maritime capability programs (including destroyers, frigates and submarines);
- Spent $11 million on South Australian regional businesses in 2019, supporting 66 jobs in areas such as the Barossa Valley, Yorke Peninsula and Strathalbyn; and
- Contributed to South Australia’s knowledge and innovation through two university partnerships, several successful career pathway programs and eight export contracts awarded to South Australian businesses in support of Lockheed Martin’s global capabilities.
Welcoming Premier Marshall’s announcement, Lockheed Martin Australia Chief Executive Joe North reinforced Lockheed Martin Australia’s commitment to building a highly skilled, high value workforce in South Australia while supporting its industry, research and regional communities.
“With several hundred Lockheed Martin Australia employees calling South Australia home and working on key operations such as the Future Submarine Combat System and Aegis programs, this state has been critical to Lockheed Martin’s ability to enhance and protect Australia’s national security,” he said.
“I am extremely proud that we have been able to make such a significant contribution to South Australia’s economy and we look forward to working with our local partners in industry and academia to build sovereign capability in the region for many years to come.”
Premier for South Australia, Steven Marshall today thanked and congratulated Lockheed Martin Australia for their extensive contribution to South Australia’s economy.
“Lockheed Martin are a key employer here in South Australia and that is only set to grow as the Federal Government’s defence projects ramp up.”
“I particularly commend Lockheed Martin for the great work they do for young South Australians and graduates getting their foot in the door in this great industry.
“Lockheed Martin employed 22 new graduates in Adelaide in earlier this year and have another 20 slated to commence in August this year,” Premier Marshall said.
A full copy of Lockheed Martin’s Economic Impact in Australia report can be downloaded here.
# # #
About Lockheed Martin Australia
Headquartered in Canberra, Lockheed Martin Australia is a wholly-owned subsidiary of Lockheed Martin Corporation. The company employs more than 1,000 people in Australia working on a wide range of major programs spanning the aerospace, defence and civil sectors.
AlphaBeta’s methodology
AlphaBeta’s economic impact study was conducted by measuring the direct, indirect, and induced economic impacts of Lockheed Martin Australia’s operations and supply chain. Lockheed Martin Australia’s financial and employment data was used to capture the companies direct contribution to the economy. Using detailed supply chain procurement data, AlphaBeta had been able to examine the degree of impact Lockheed Martin Australia has on each of its suppliers and measure Lockheed Martin Australia’s indirect economic contribution. Lastly, the induced impact of LMA’s employee spending was modelled using ABS input-output tables.
Media Contact:
Michelle Scully, Head of Communications Australia and New Zealand, +61 448 032 387