The Finocchiaro CLP Government is laser-focused on growing the Northern Territory economy in 2025 with its Territory Coordinator reform, payroll tax relief, and HomeGrown Territory grants.
"For eight years under Labor, the Northern Territory's economy has struggled, wearing the stigma of being the worst performing economy in the country for five-and-a-half years, and many major projects have either fallen over or stalled," said Chief Minister Lia Finocchiaro.
"That's why, in just four months, we've launched the HomeGrown Territory Grants program https://ntministers.createsend1.com/t/t-u-sdtkrul-l-y/ with over 300 applications, Territory Coordinator reform, and abolished payroll tax for 200 small businesses while additionally supporting hundreds of medium businesses to grow.
"These initiatives are designed to give confidence and certainty, create jobs, drive investment, and grow our economy.
"We've already seen significant interest in the HomeGrown Territory Grants program, with 308 applications submitted. This is securing our population and creating tens of millions of dollars in economic stimulus.
"We are full of hope and optimism for 2025, and a strong economy will help reduce crime and restore the lifestyle that makes the Territory such a great place to live, work, visit and invest.
"Together, we will rebuild the Territory and drive future growth."
Other economic initiatives introduced by the Finocchiaro CLP Government since being elected include investing $27 million in Alice Springs infrastructure projects here and establishing the Approvals Fast Track Taskforce https://ntministers.createsend1.com/t/t-u-sdtkrul-l-t/ to reform regulatory processes and reduce approval timeframes for small businesses.
"Standing at the Sunbuild construction site on Progress Drive with Director Neil Sunners reinforced why the Territory Coordinator is so important," said Mrs Finocchiaro.
"When investors have confidence to develop big projects, apartment sites like this come to life, and one project leads to another."
Mr Sunners said reforms such as the Territory Coordinator would ensure timelines were maintained for significant projects, which in turn helps smaller projects to flourish.
Mrs Finocchiaro said: "We publicly released the draft Territory Coordinator legislation in November, and we're encouraging all Territorians to provide their feedback by 17 January."
In December, community information forums were held across the Territory in Katherine, Tennant Creek, Alice Springs, Nhulunbuy, and Darwin/Palmerston.
A virtual forum is being held on Wednesday, 8 January, between 2pm and 4pm. Visit the Territory Coordinator website https://ntministers.createsend1.com/t/t-u-sdtkrul-l-d/ to secure your spot.
Photo: Chief Minister Lia Finocchiaro with Sunbuild's Neil Sunners at a construction site in Nightcliff.
