Territory Stories

Budget Paper 1994-95 No.6 Northern Territory Economy

Details:

Title

Budget Paper 1994-95 No.6 Northern Territory Economy

Other title

Tabled Paper 2156

Collection

Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT

Date

1994-05-12

Description

Tabled by Barry Coulter

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2021C00044

Parent handle

https://hdl.handle.net/10070/292876

Citation address

https://hdl.handle.net/10070/398240

Page content

Housing and Construction Non-Residential Building Outlook Nationally, record company profits recorded for December quarter 1993, (increasing 16% over December quarter 1992), combined with rising business confidence and low interest rates, provide a healthy environment for non-residential building development. However, office vacancy rates in commercial centres are historically high and building prices are relatively low. Together these may result in business purchasing existing office space rather than investing in new developments. The Territory Construction Association has indicated planned private sector projects for 1994 total over $80 million and include: a brewery in the Trade Development Zone, ($ 10 million), mine and plant extensions at the Mt. Todd Mine ($7.5 million), and structural works and a w harf for the M cArthur River Mine. Major construction projects for 1994/95, associated with defence force requirements (for example, a central mess/gymnasium costing $20 million and RAAF Darwin control tower costing $4.5 million) to be funded by the Commonwealth are expected to total almost $30 million. 69