Territory Stories

Budget Paper 1994-95 No.6 Northern Territory Economy



Budget Paper 1994-95 No.6 Northern Territory Economy

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Tabled Paper 2156


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




Tabled by Barry Coulter


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.




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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

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