Authors / CoAuthors
ACIL Allen Consulting
Abstract
<p>Exploring for the Future (EFTF, <a href="http://www.ga.gov.au/eftf">http://www.ga.gov.au/eftf</a>) is a four-year (2016–2020) $100.5 million program investigating the mineral, energy and groundwater resource potential in northern Australia and parts of South Australia. The program is delivering new geoscience data, knowledge and decision support tools that support increased industry investment and sustainable economic development. <p>Geoscience Australia commissioned ACIL Allen Consulting to independently quantify the return on investment from selected EFTF projects that are representative of the nature of the work done under the program. The objective was to develop a plausible and economically robust estimate of the returns to government through increased government revenue as a result of the case study projects. Geoscience Australia would like to acknowledge the organisations that have contributed to or supported these EFTF case study projects. <p>The results of this independent analysis can be used to estimate the impact and value of the EFTF program as a whole relative to the funds invested in these activities. The evaluation framework used by ACIL Allen Consulting to assess the impact and value of Geoscience Australia’s pre-competitive geoscience under EFTF is one that has been used for similar assessments of similar organisations in the past. <p>The analysis shows that the benefits that could potentially flow to the Commonwealth as a result of the EFTF projects examined at least match what has been spent on the program, and the returns can be as much as an order of magnitude higher than the cost of the entire program.
Product Type
document
eCat Id
132897
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Cnr Jerrabomberra Ave and Hindmarsh Dr GPO Box 378
Canberra
ACT
2601
Australia
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Keywords
- theme.ANZRC Fields of Research.rdf
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- Public Economics- Taxation and RevenueGEOPHYSICSAgricultural EconomicsGEOLOGYPetroleum and Coal GeologyAgricultural Land PlanningHydrogeologyEconomic Development and GrowthOre Deposit PetrologyEARTH SCIENCES
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- Exploring for the Future
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- EFTF
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- Published_External
Publication Date
2020-01-09T01:41:42
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Purpose
Geoscience Australia commissioned this independent expert report to quantify the return on investment, primarily in terms of returns to government through increased government revenue, for selected case studies from the EFTF program. This return on investment analysis was undertaken to demonstrate the justification for Government investment in pre-competitive geoscience.
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asNeeded
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geoscientificInformation
Series Information
Lineage
ACIL Allen Consulting were contracted by Geoscience Australia to prepare this independent report in September 2019. A preliminary report was provided in October 2019 and this final report was completed in December 2019.
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[-26, -10, 112, 155]
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