Budget 2018: Extra $2.44 Million to Attract Major Projects and Create Jobs

11 April 2018

NT Government: The Territory Labor Government will invest an additional $2.44 million over the next two years to attract and deliver new major projects to the NT to boost the economy and create local jobs.

Chief Minister Michael Gunner said Budget 2018 will also provide $1 million ongoing to the Department of Environment and Natural Resources to expand its environmental assessment and approval teams to advise on environmental impact assessments, authorisations and regulation of Major Projects in the Northern Territory.

“Budget 2018 continues this Government’s record of investing in job-creating infrastructure right across the Territory. It’s a budget also focused on facilitating private sector investment and getting projects out of the ground as quickly as possible,” Mr Gunner said.

“Major private projects and Government facilitated projects contribute significantly to the Territory economy through the creation of jobs and business opportunities.

“The Department of Trade, Business and Innovation (DTBI) has responsibility for the delivery of nine facilitated investment projects valued at over $30 billion, and 18 projects with Major Project Status valued at over $10 billion. This equates to around 10,000 construction jobs, plus 3,000 jobs during their operational phases.”

Mr Gunner said the additional funding will boost the Strategic Infrastructure and Projects team in DTBI - enabling Government to deliver new private sector and Government -facilitated projects in the Territory.

“The funding will strengthen the team that delivers private sector projects – such as Seafarm’s Project Sea Dragon or Government-facilitated ones – such as the Darwin Waterpark,” he said.

“As was highlighted through our Economic Summits, we need to continue leveraging private sector investment because these projects will create thousands of jobs during construction and ongoing phases and of course indirectly by boosting our tourist and business assets.

“There are several projects currently progressing to potential Major Project Status or requiring assessment – this funding to DTBI will provide resourcing to assist project proponents to develop proposals and enable Government to consider them faster.”

He added that the $1 million to DENR for environmental assessments and approvals of major projects will allow efficient and effective environmental regulation and timely approval decisions to help maintain investor confidence.

“Environmental approvals can be highly complex for major projects which reflects their scale and significance – this funding with help with that work,” Mr Gunner said.

“These approvals ensure our valuable natural environment is protected and are important milestones for developments to proceed and progress, therefore the timely and efficient regulatory approvals are critical to maintaining investor and community confidence.”

The 18 Major Projects are:

The 9 facilitated projects are:

* The Ichthys project and the Darwin Ship Lift and Marine Industry Project are both ‘facilitated projects’ and ‘Major Projects’.




Source:  Northern Territory Government - www.newsroom.nt.gov.au

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