Defence billions could flow for a decade as business urged to ‘seize the day’
Leaders have welcomed the huge economic boost Defence infrastructure will bring to the Territory, but there’s work to be done to get there. Read what’s required.
Northern Territory
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Housing, skills training and people are the three challenges facing the NT as Defence prepares to inject an additional $6bn into the NT economy in the coming four years.
This masthead on Monday revealed Defence will invest $6.23bn and add an extra 7640 direct and indirect jobs into the economy by 2027 as it’s national defensive posture shifts to northern Australia.
ACIL Allen’s Master Builders NT commissioned report drilled into the numbers and identified the strengths and weaknesses of the NT economy, which will be required to deliver and maintain the national security infrastructure.
And Master Builders NT chief executive Ben Carter said they told only part of the story, with billions more spending planned beyond 2027.
“This is going to create huge opportunities for thousands of small businesses and families in the Territory, it’s a great opportunity for businesses to gear up and take advantage of this massive investment,” he said.
“Territory businesses can seize the day and gear up their businesses to take advantage of this amazing pipeline of work that’s coming.”
Acknowledging the lack of housing, he said the problem was Australia-wide.
From a skills perspective he is optimistic the new CDU TAFE, which opened this year, will deliver what NT industry needs.
“I think that you would say there obviously are some teething problems turning a university into a TAFE and that’s causing industry some concern at times, however there’s an opportunity there to really deliver through the CDU TAFE,” he said.
“There needs to be some partnership with industry around that so there can be some industry led training so that it is the skills that we need not the skills that might be most comfortable for other people.”
Leaders from both sides of politics praised the report.
Chief Minister Natasha Fyles said the forecast spending was on top of $8bn spent in the last seven years.
“This report highlights to the NT, to the broader community and particularly us as government what we do need to build the capacity, whether it’s houses or saying to our young people there are so many opportunities for those jobs of the future.”
Opposition Leader Lia Finocchiaro said a CLP government would stop Defence contracts heading interstate.
“To take full advantage of these opportunities we must take back control of our streets and improve the liveability of Darwin that is currently stopping Defence personnel from staying here.”
Treasurer Eva Lawler said the report forewarned what was to come.
“It’s a market signalling report to industry, to government but also to the banks and developers to say you’ve got these plans to build multistorey unit block, you can get moving on that now because you’ll be sure there’s that demand.”
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