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Australia’s mRNA Advantage: Jobs, Health and Economic Resilience
In partnership with Oxford Economics Australia, Moderna has produced an Economic Impact report.
The report highlights the significant economic and sovereign capability benefits of Australia’s first end-to-end mRNA manufacturing facility in Clayton, Victoria.
Key Impacts
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Economic Contribution
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- The facility is estimated to contribute 990 direct and indirect jobs per year.
- It is expected to contribute $220 million GDP during operations with an additional $124 million annually from flow-on effects.
Pandemic Preparedness
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- The onshore capability of the MTC-M is estimated to help Australia avoid $4.8 billion in costs associated with a future pandemic over a 30-year period.
- $3.37 billion comes from health and wellbeing gains including reduced mortality risk, lockdown related mental health impacts and avoided lockdown costs.
R&D Benefits
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- Moderna will invest an estimated $266 million directly in national R&D between 2023-33, with $128 million allocated to Victorian-based activity.
- Moderna’s R&D activities are expected to generate $267 million in additional economic value nationally, including $117 million in Victoria, from productivity spillovers over a ten-year period.
Sovereign R&D Capability
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- Moderna’s R&D activities are expected to generate $267 million in additional economic value nationally, including $117 million in Victoria, from productivity spillovers over a ten-year period.