TasRail is a State-owned Company, established on 1 December 2009 by an Act of the Tasmanian Parliament. The principal objectives of the business are set out in the Rail Company Act 2009 and require the Company to operate a rail business in Tasmania, effectively and efficiently and to operate its activities in accordance with sound commercial practice. With a workforce of around 250 men and women, Tasmania's current freight task is approximately 2.5 million tonnes per year – generating annual revenue in the order of $30 million. Since it was established, TasRail has spent $97.7 million purchasing goods and services from more than 900 Tasmanian Companies.