Northern Territory Investment Plummets, Calls for Smaller Projects
Adelaide News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Private investment in Australias Northern Territory plummeted by 25% last year, with the non-dwelling construction sector suffering a nearly 50% drop, primarily due to the completion of the Barossa gas project. This trend mirrors the late 2010s when investment nosedived post-Ichthys gas field completion. Local leaders attribute this to escalating costs and job instability. Experts and owners express concern over the boom-and-bust cycle caused by large projects and advocate for more support for small and medium businesses. The Northern Territory government is promoting initiatives like the Darwin ship lift and the Beetaloo Sub-basin to attract investors. However, theres a growing push for distributing funds across smaller projects to foster economic resilience and confidence among local firms.
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