In 2018, TAFE Queensland commissioned KPMG to develop a report to calculate the organisation's impact to the Queensland economy and evaluate how it supported industries and communities throughout the state.
The report found TAFE Queensland delivered an economic benefit of $1.8 billion to Gross State Product (GSP) in 2017, with every $1.00 spent supporting $2.55 of value-added in the Queensland economy.
KPMG National Education Lead Partner Professor Stephen Parker and his education team wrote the report which includes analysis and modelling by KPMG Economics.
“More than ever before, Queensland’s and Australia’s current and future workforce needs to prepare for the changing requirements of employment,” Professor Parker said.
“These changes will happen to jobs themselves, and the skill profiles within jobs.
“A healthy and vibrant TAFE system will be a non-negotiable and vital part of ensuring that Queensland has an education system that can meet the skills needs of the future,” he said.
The report identifies that as Queensland faces skill shortages in key growth sectors, the growing need for workforce upskilling and ongoing industry transformation, and that TAFE Queensland has a critical role to play in sustaining and growing Queensland’s prosperity long into the future.
TAFE Queensland Chief Executive Officer Mary Campbell welcomed the findings and said the report highlighted how TAFE Queensland has a broader remit than the delivery of training and education alone, and recognised how the organisation serves communities throughout Queensland.
“The report identifies that TAFE Queensland is responsible for significant social, community and equity benefits which are hard to quantify in terms of financial gain,” Mrs Campbell said.
“We have and will always try to make our training accessible to students from all walks of life; enrolling students from diverse education and socio-economic backgrounds.
“The report findings highlight the leadership role of TAFE Queensland in engaging with rural and remote regions and reaching out to Queensland’s more marginal student cohorts, making a significant contribution to the Queensland economy and its communities.
“Consequently, many of the initiatives we run in rural and remote areas are to support the community and reduce social exclusion, rather than increase profits or pursue purely commercial objectives,” she said.
TAFE Queensland supports both up-skilling and re-skilling to improve the pathways to employment of those who have been disrupted by shifting industrial demand, and provides second chances for those who failed to successfully negotiate the school system.
The report also found that through its inbound and outbound students, TAFE Queensland supports Queensland’s strategies to grow the state’s international education and training sector with international students contributing $125 million of value-added in the Queensland economy.
“One of the Queensland Government’s priorities is promoting Queensland internationally and modernising the Queensland brand, and as the state’s largest vocational education and training provider we have an important role to play,” Mrs Campbell said.
“We’ve dedicated resources to developing business with governments and enterprises across the globe and recruit international students from over 90 countries and this has resulted in great benefits for Queensland.
“Our international engagement has resulted in a number of successful arrangements, including the Australia-Pacific Training Coalition and the Shanghai Polytechnic College. These in-country arrangements also provide opportunities for our staff to access valuable global learning and teaching experiences,” she said.
The KPMG report confirms the vital role of TAFE Queensland to the social and economic wellbeing of all Queenslanders. Working alongside Government and local business, TAFE Queensland is playing a critical role in providing the skilled workforce needed to drive economic growth and future prosperity.