On October 16, 2024, Premier Roger Cook and Defence Minister Richard Marles announced the establishment of a Commonwealth-owned defense precinct at the Henderson shipyard, marking a significant diversification of Western Australia's economy.

The federal government is committing $127 million over the next three years for initial works, including detailed design, with total project costs estimated between $12 billion and $20 billion.

This initiative is projected to create approximately 10,000 ongoing jobs, making it a major contributor to Western Australia's economy.

The government is advancing planning, consultation, and feasibility studies for the defense precinct, ensuring a robust future for the state's defense industry.

The defense precinct at Henderson is a crucial milestone for the AUKUS agreement, facilitating the maintenance of future conventionally-armed, nuclear-powered submarines in WA.

Following a $20 billion deal between state and federal governments, Henderson is set to become the largest naval maintenance hub in the Southern Hemisphere.

The 'jobs for subs' program was introduced to create career opportunities for 200 young workers in submarine maintenance and shipbuilding.

Premier Cook emphasized that this industry could rival the resources sector in terms of economic activity and employment opportunities.

The Albanese Government is committed to delivering a practical plan for the Henderson shipyard, contrasting with previous administrations that made unfulfilled promises.

Earlier this year, the government pledged $8 billion to expand HMAS Stirling naval base, part of a broader investment strategy that will inject tens of billions into WA over the next two decades.

A feasibility study will cost $127 million over the next three years to plan and design the precinct, with overall costs expected to rise significantly over the next two decades.

Plans for the precinct include a floating dock for in-water maintenance and an additional dock for emergency repairs on nuclear-powered submarines.