Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy

Details:

Title

Budget Paper No.6 1997/98 Northern Territory Economy

Other title

Tabled Paper 3223

Collection

Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT

Date

1997-04-30

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/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/289257

Citation address

https://hdl.handle.net/10070/404114

Page content

region of Darwin, close to both the citys Central Business District and the new Darwin port. The TDZ offers bonded warehouse facilities (where import duties are rebated on imported inputs to the manufacturing process if the final product is exported), as well as tax concessions and coordinating functions. Currently 27 businesses operate in the TDZ providing employment for 150 people. Enterprises presently established provide a wide range of manufactured products including precision engineered components and chemicals for mining, power systems for remote areas and the processing of seafood products for Asian markets. In March 1997, the CUB brewery (formerly operated by Goldchill) commenced production. Manufacturing Outlook Manufacturing in the Territory is expected to continue expanding in future years. The Australian Bureau of Agriculture and Resource Economics has forecast an increase in alumina prices in 1997 and a domestic increase in demand which should raise the value of alumina produced in the Territory. There are also several large projects such as the proposed LNG plant and Space Base that will generate many new opportunities for manufacturers in the Territory. Strong growth in population and consumer demand is expected to consolidate growth in food and beverage processing. While manufacturing has generally developed in response to Territory demands, local manufacturers are increasingly exploring opportunities in external markets. In particular, Darwins close proximity to South East Asian markets presents numerous opportunities for manufacturing businesses. A number of businesses have already identified possible markets in this region; for example a factory is planned to grow and semi-process spirulina (an algal product) for export to Taiwan. The Northern Territory Department of Asian Relations, Trade and Industry and the Manufacturers Council are currently developing a manufacturing policy. In conjunction with the Territory Governments promotion of Darwin as the gateway to Asia and its commitment to facilitating export infrastructure (including the Darwin to Alice Springs railway), it will lay the groundwork for the industrys continued success and expansion. Manufacturing Employment 0 10 20 30 40 Metal products Food, beverage Printing, publishing Non-metallic minerals Machinery, equipment Textile, clothing Wood, paper products Petroleum products Other manufacturing Northern Territory Australia % of Employment Source: ABS Cat. No. 8201.0, 1994-95 Figure 12.1 Manufacturing 74