The Industry Capability Network again proved an excellent return on the stakeholder's investment in 2005.
Analysis of the statistics for the 2004-05 year show that Australian companies enjoyed contracts to the value of $646 million which might otherwise have gone to overseas destinations. This brings the total contracts since the Network started collecting national statistics to $5.5 billion. Given that every $1 million dollars spent locally generates or maintains 17 jobs then the economic benefits are obvious.
ICNL also runs the Supplier Access to Major Projects on behalf of the Federal Department of Industry Tourism and Resources. Last year SAMP grants to a value of $754,000 were issued and from these contracts for Australian companies amounted to $213 million, a extremely good return on investment. Since commencement of the program $1.194 billion in contracts have been realised.
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