Territory growth continues

The Territory today is a place of opportunity.

Our predicted economic growth rate of 3.6 per cent for 2009–10 is the highest of all jurisdictions, and our growth is predicted to remain the highest in the nation over the next five years.

To ensure that our services are maintained during this growth, the Territory Government has committed to a range of initiatives and infrastructure projects to meet the needs of all Territorians. Among these is a $1 billion five-year plan to upgrade power, water and sewerage through the Power and Water Corporation. Territory roads are also undergoing $322 million in upgrades. As well, major land release and housing sub-divisions continue to come online, and construction on an entire new city, Weddell, in the Top End, is expected to start within the next five years.

A record $6.3 billion in goods exported from the Territory in 2008–09. The Growing International Trade 2009–2013 strategy supports further trade from the Territory and focuses on businesses and markets of strategic importance within our neighbouring South-East Asian region.

One of the major components of the Territory’s export and trade industry is mining. The government is supporting and attracting further investment partners for mining with initiatives such as the Bring Forward Discovery (BFD) program and is actively supporting trade missions to key markets, including China.

Growth in the Territory’s key industries flows on to local businesses, which continue to thrive and diversify. The government supports local businesses with regular, fully subsidised Upskilling Workshops throughout the year and a month of inspirational workshops and speakers during October Business Month.

Growing the Territory is one of the key factors underpinning Territory 2030 – the government’s long-term plan for the Territory’s future – and it is providing fresh ideas and real results for all Territorians.