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Woolworths Group added $10B to the regional economy and supported 100,000+ jobs.
Woolworths Group recently shared a new study showing how much their stores, supply chain, and connections with suppliers impact rural areas in Australia. This report revealed that the big retailer contributes nearly $10 billion every year to the economies of these regions.
This week, Woolworths Group celebrated National Agriculture Day by sharing its 2023 Regional Report. It focuses on how Woolworths is part of rural and regional communities, many of which rely on farming.
The research, conducted by Mandala, found that Woolworths Group put almost $10 billion into regional communities in FY23. This includes a direct contribution of $2.9 billion and $7 billion through partnerships with regional suppliers.
The study showed that Woolworths Group supports 105,000 jobs in regional Australia. They directly employ 47,500 people and indirectly support another 57,500 jobs.
The report not only talks about how many people work for Woolworths in these areas (which is about 17% of all retail workers in regional Australia) but also highlights the opportunities it offers to groups that are sometimes not represented well, like young people, women, and First Nations Australians.
In Woolworths Group’s regional workforce:
There are more than twice as many team members aged between 15 and 24 compared to the regional average.
Women make up 25% more of their workforce compared to the regional average.
First Nations team members are 11% more than the regional average.
Woolworths Group CEO Brad Banducci mentioned that regional Australia has always been important for their business, dating back to when they first opened a store in Ipswich in 1929. He praised the farmers, producers, and others who help bring fresh Australian food to millions of customers.
He also highlighted their role in providing jobs, especially for young people. Woolworths stores often serve as a starting point for many people’s careers, offering them opportunities for future jobs.
Over the next five years, Woolworths Group plans to invest more than $330 million in 29 projects in regional Australia. This includes updating current stores and building new spaces where other retailers can also set up shop.
These investments are expected to create more than 1,800 construction jobs, with a significant number in regional Victoria and Queensland. Woolworths Group aims to keep growing and supporting these communities.
The 2023 Woolworths Group Regional Report can be downloaded for more details on their contribution to regional communities, the amount of produce they buy from Australian farmers, and examples of their response to natural disasters.