For Every $100 in Data Centres, $80 Leaves Australia
Politicians and tech leaders are selling data centres as Australia's next economic boom. The Australian Bureau of Statistics tells a different story: the surge in data centre investment was “supported by a corresponding rise in imports, leading to a reduced impact on GDP.”
Translation: the money is passing through Australia like water through a pipe. And some of the loudest cheerleaders are companies already sending thousands of Australian jobs offshore.
Where the money goes
Hyperscale (Amazon, Google, Microsoft build their own)
Chips, servers, networking
Taiwan, US, East Asia
Power systems, cooling, generators
Europe, US
Stays in Australia
Concrete, labour, project management
Per $100 invested. Source: Alpha Matica analysis.
Australian co-location (NextDC, AirTrunk, CDC build the shell)
Imported equipment & systems
Tenants bring their own hardware
Stays in Australia
Shell, power, cooling, labour
Per $100 invested. Source: Morgan Stanley Research estimates.
What the boosters say vs. what they do
These leaders are championing data centres as Australia's economic future. Here's what their companies are doing with Australian jobs.
Scott Farquhar, Atlassian
“Australia should be exporting megawatts as megabytes and getting paid megabucks.”
1,700+
Workers offshore
14% of workforce
Cameron Adams, Canva
“Data centres are the biggest opportunity that I can see to add on an entirely new layer to Australia's economy.”
1,000+
Workers offshore
20% of workforce
Steven Worrall, Telstra
“One of the great economic opportunities for Australia.”
10,000+
Workers offshore
36% of workforce
The tax question
Data centre operators are capital-intensive and employ relatively few people — just 11,500 workers in the entire sector. So what does Australia get in tax?
| Entity | Australian Revenue | Tax Paid |
|---|---|---|
| $8.4B | $92.6M | |
| Equinix | $246M | $6M |
| Mining sector | — | $48B |
The real risk
“My main worry is that there's an offshoring event on a level with or on a magnitude we've never seen before.”
— Casey Flint, ReflectionAI (formerly Australian VC investor)
Flint describes a scenario where Australia sends its data, capital, and talent to offshore data centre hubs, then buys back AI capacity at a premium. Google has already signalled uncertainty about its $20 billion Australian commitment, telling the government it needs “clearer policy settings” before proceeding.
Meanwhile, the companies cheering loudest for data centres are simultaneously cutting Australian workers and expanding offshore. The promised productivity boom requires “massive follow-through in software, R&D, and skills,” as the e61 Institute noted. It doesn't materialise just because you've poured a slab in western Sydney.
Key numbers
$26B+
Promised investment by 2030
70–80%
Leaves Australia immediately
11,500
Total sector jobs nationally
12%
Grid electricity by 2050
Based on reporting by David Swan, The Age / Sydney Morning Herald, 6 April 2026. Analysis from Alpha Matica, Morgan Stanley Research, Deloitte (commissioned by Google), and the e61 Institute. Offshore worker figures are confirmed minimums from public sources.