Northern door opens for investment
TODAY’S launch of the Northern Australia White Paper opens the door for industry-supporting projects like the Walkerston bypass and the Urannah Dam.The White Paper: Our North, Our Future, outlined a framework for supercharging the economy of North Queensland, the Northern Territory and the northern half of Western Australia.From mining and agriculture to tourism and services, the Government will be fostering and investing in industries to help the north prosper and grow.The Abbott Government has already backed this plan with a $1.2 billion commitment, including $600 million for road infrastructure and $200 million for water infrastructure.That is on top of the $5 billion fund for concessional loans to infrastructure projects in the north.It is now up to private enterprise and the Queensland Government to access those funds and drive the projects that will drive the North Queensland economy.There were many worthy projects identified during this process and the Liberal National Government has now created the conditions and allocated the funding needed to get them off the ground.There has been a lot of talk about realising the full potential of the north over the past few decades but this is the first time a government has taken real action with a comprehensive plan back with funding.The White Paper includes measures to unlock the north’s potential across six key areas: simpler land arrangements to support investment; developing the north’s water resources; growing the north as a business, trade and investment gateway; investing in infrastructure to lower business and household costs; reducing barriers to employing people; and improving governance.Mr Christensen said the North had enormous untapped potential, with a land mass covering over three million square kilometres and a population of over one million people.The White Paper is a roadmap for achieving our vision for the north by 2035 and we are starting work right away – alongside the people who live and do business in the north.We have set out an ambitious long-term reform agenda for the north because a strong north means a strong nation.More business, trade and investment means stronger growth, more jobs, higher incomes and better living standards in the north and across Australia.The proximity to the fast-growing Asian and tropical regions means boundless opportunities where demand for Australian goods and services is reaching unprecedented levels.The Government will help attract more investors to the north by:
- Hosting a major northern investment forum in Darwin in late 2015 to bring together international investors, supported by the new investment prospectus: “Northern Australia emerging opportunities in an advanced economy”;
- Setting up a new $75 million Cooperative Research Centre on Developing Northern Australia;
- Investing $15.3 million to position the north as a global leader in tropical health;
- Providing $12.4 million for Indigenous Ranger groups to expand biosecurity surveillance, with further details on biosecurity to be announced in the forthcoming Agricultural Competitiveness White Paper; and
- Helping business enter new markets and supply chains by increasing access to the Entrepreneurs’ Infrastructure Programme and Industry Skills Fund.
Infrastructure is critical to fast tracking growth and unlocking the north’s economic potential.The Commonwealth Government will focus on funding high priority infrastructure through:
- A $5 billion Northern Australia Infrastructure Facility, providing concessional loans for major infrastructure in the north and supporting projects prioritised on the new infrastructure pipeline;
- A new $600 million roads package to improve key roads in the north, including consideration of upgrades for the Arnhem, Barkly, Flinders, Great Northern, Savannah and Hann highways, the Outback Way and the Tanami Road;
- A $100 million beef roads fund which will help improve cattle supply chains;
- Investing $39.6 million to upgrade airstrips and subsidise air services in remote Australia; and
- Investing $5 million in rail freight analyses — starting with a pre-feasibility analyses of the Mount Isa to Tennant Creek railway and an upgrade of the Townsville to Mount Isa line.
The north’s workforce needs are unique.Many businesses effectively shut down or cut back during the wet season; working long hours in the dry season.For example, tourism workers often need to work outside standard hours, while mining or agriculture workers can be required to stay onsite for extended periods of time.The Government will build on existing initiatives across Australia, including reforms to higher education, skills and training and the $5.5 billion Growing Jobs and Small Business Package to create the right conditions for small business to grow and create new jobs.The Government is also helping more Australians to work in the north by:
- Assisting the Northern Territory Government to streamline recognition of occupational licenses from other jurisdictions, abolishing red tape and expanding job opportunities;
- Supporting northern business to invest in the skills of their workforce with additional assistance under the Industry Skills Fund; and
- Supporting remote job seekers to work in real jobs through reforms to the Remote Jobs and Communities Programme.
The Joint Select Committee on Northern Australia has been continued for the life of the Parliament to ensure ongoing bipartisan support for developing the north.Shifting the Office of Northern Australia to the north will also increase links between the north and the Commonwealth.More information on the White Paper is available at: https://northernaustralia.dpmc.gov.au/