The Northern Territory (NT) Treasurer, The Hon. David William Tollner announced the NT Government 2014-15 budget this afternoon. The Government’s budget report can be found here Northern Territory State Budget 2014-15.
There have not been many announcements about specific grants in this year’s budget, so we have highlighted some of the major outcomes for business out of the budget for your interest:
- $5.4 million has been allocated for a group of industry development programs, which grow the capacity and capability of local businesses.
- $1.85 million has been allocated to continue to support Territory Business Centres across the Territory to provide business advice and licence information to businesses.
- $450,000 has been allocated to establish a Red Tape Abolition Squad to make doing business in the Territory easier and more attractive to investors.
- $500,000 has been allocated to implement procurement reforms to improve and streamline the processes associated with procuring government contracts.
Business Innovation Support Initiatives Program
- $500,000 has been allocated over two years to continue to support small and medium sized businesses to pursue innovation and undertake research and development projects.
Indigenous Workforce Participation Program
- $1 million has been allocated to continue to support Indigenous employment opportunities.
- An additional $8 million has been allocated to grow tourism in NT. This includes $500,000 for a regional tourism product development grant.
- $17.5 million has been allocated for domestic marketing activity in partnership with tourism retailers, airlines and other partners.
Mines and Energy
- $15.8 million has been allocated over four years for resource exploration.
- $8 million has been allocated over four years for an accelerated collaborative program to assess the Territory's shale gas potential and resources.
Primary Industries and Fisheries
- $1.24 million to improve market export access to overseas markets and undertake initiatives to lengthen the mango production season.
- $1 million over two years to establish a Food Industry Development Group.
- $700,000 for ongoing development of Indigenous commercial fishing capacity.