Economic impact of TC Jasper flooding event

Tropical Cyclone Jasper and the associated flooding event is estimated to have had a $390 million adverse impact on the Cairns economy.

Conus Consultancy Services was engaged by Council on behalf of the Economic Recovery Sub-Committee to undertake an Economic Impact Assessment of the Cairns region to understand the economic impact of the event.

Of the 511 organisations across the Cairns SA4 region surveyed, 85.9% reported that they were impacted by the event, with 73.2% closing temporarily, and 38.8% reporting impacts to their employment levels.

Asset damages to those organisations was more than $100 million, with over 7.5% of respondents stating their asset damages exceeded $500,000.

The estimated adverse gross economic impact in the Cairns Local Government Area was $389.4 million, and $649.1 million in the wider Cairns SA4 region.

Council is now forecasting a $127 million repaired bill associated with the flooding event, of which $100 million is expected to be recovered from external funding.

Council will continue to work closely and collaboratively with the Queensland Reconstruction Authority to advocate for funding.