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Industry News, Latest News, Northern Territory

Northern Territory appoints Major Projects Commissioner

Billions of dollars in capital for major infrastructure projects could be unlocked through tax incentives for projects worth more than $500 million, as part of a draft plan released by the Federal Government.

A Northern Territory Investment Commissioner and Major Projects Commissioner will be appointed to turbo charge major projects and grow the Territory economy.

The new positions will have a broad investment mandate and are expected to become key links between industry and government.

Each will report directly to the Chief Minister, and have the authority to make recommendations to Ministers and present to Cabinet. They will also oversee teams of around 10 specialist staff from Investment Territory, with other surge staff to pivot between the two teams.

The commissioners will pursue the investment and business reform needed to achieve the NT Government’s goal of a $40 billion economy by 2030.

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The Territory Investment Commissioner will also oversee a new $5 million fund to find new investment opportunities in the Territory in target sectors such as advanced manufacturing, renewable energy and digital industries.

The Major Projects Commissioner will be the point of coordination for major projects, in an attempt to make it easier for businesses to navigate approvals and create Territory jobs. The commissioner will recommend additional legislative changes where necessary to make it easier to deliver projects and will identify legislative powers required to support their role, if needed.

The Major Projects Commissioner will oversee the creation and operation of sustainable development precincts and will chair the newly formed Land Development Corporation Board.

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