As of the 2007�08, Mackay contributed $15.4 billion to the Australian economy, or 7.1% of Queensland's GSP. This is largely on the back of its export-oriented industries of sugar and mining.
Mackay is famous for its history as one of Australia's largest cane farming regions. However, in recent years, the mining industry has become the mainstay of the local economy. Heavy investment and planning is also going into Mackays growing tourism industry.
Mining
Mackay is widely recognised as the gateway to the Bowen Basin coal mining reserves of Central Queensland. It is the single largest coal reserve in Australia, with 34 operational coal mines extracting more than 100 million tonnes annually. This represents about 83 per cent of Queensland�s coal production, among its most important export commodities. While much of this is used in Australia, Japan and China are the largest export recipients. Although coal was reported to be discovered late in the 19th century, it was not until 1971 that the first coal from Goonyella was produced on a commercial scale.
Over the past 10 years, Mackay has become the location of choice for many mining service companies that supply and consult to the mine operators. This is due to its strategic proximity to the mines, major highways and train lines, and the Hay Point coal terminals. Most of these companies are headquartered in the suburb of Paget, to the city's south. Global companies to have set up facilities in the area include Caterpillar Inc., MMD Sizers, WorleyParsons and Letourneau Technologies.
Despite the city's benefits, it is widely recognised that Mackay has come to depend too heavily on the mining industry for economic growth. However, the Mackay Regional Council (in conjunction with the Queensland government and other stakeholders) has made efforts to diversify the economic base of the region, particularly into emerging sectors including eco-tourism, bioenergy and the marine industry
