CQUniversity has helped assess the regional economic impacts of flood interruption to transport corridors in Rockhampton, giving local planners a valuable tool to lobby governments for remedial funding.

CEO of Capricorn Enterprise Mary Carroll and Professor John Rolfe from the Centre of Environmental Management at CQUniversity recently launched a joint study into the economic costs of transport corridor closures during peak flooding in the Fitzroy River early this year.

Previous flood heights in Rockhampton:

1918 - 10.11 metres - 26 days above 8m

1954 - 9.4 metres - 13 days above 8m

1991 - 9.3 metres - 13 days above 8m

2011 - 9.2 metres - 18 days above 8m

This study assessed the direct economic impacts, including the emergency response and avoidance costs as well as indirect costs stemming from the closure of the transport corridors at Rockhampton.

The floods closed the Bruce and Capricorn highways for two weeks and the Rockhampton airport for three weeks, largely isolating the city from supplies and separating north Queensland from southern Queensland.

The impacts of the transport corridor closures at Rockhampton in January 2011 cost the Rockhampton economy approximately $35 million, and the wider Queensland economy a further $45.7 million, for a total of $80.7 million.

CQUniversity's component of the study was funded through the Vice-Chancellor's Engaged Research Initiative for the floods earlier this year. Over 20 source documents were included in the research for this document, 138 businesses were surveyed in detail and a further six in-depth interviews with business leaders were carried out six months later.

Capricorn Enterprise CEO Mary Carroll said: "this study reveals extraordinary losses of millions of dollars a day not just to the local economy but to the state and nation.  The cost to flood proof the 5km of national highway entering Rockhampton from the south is estimated at $500 million.  This is a small price for governments to pay when you consider the monumental losses to our state's economy, not to mention the job losses and lack of recovery of some small businesses."

Professor John Rolfe of CQUniversity said: "this study revealed a daily loss of $730,000 per day due to the airport closure, and $5.41 million dollars per day from the road closures to Rockhampton and the Capricorn Coast, equalling $35 million over the full period of the flood closures".

The study points out that the economy of Rockhampton is underpinned by several key drivers:

• A service centre for the population at the local and regional level, particularly in terms of commercial services and government and social services
• A service centre for the three key primary industries of agriculture, mining and tourism at the regional level
• A service centre for secondary industries of manufacturing, utilities and construction, largely at the sub-regional level.