Initiatives launched to create a powerhouse in the north of Australia

by Ray Clancy on March 17, 2016

in Australia Immigration, Jobs in Australia

A series of new initiatives in Australia are being put in place with the aim of making locations outside of capital cities more attractive to long term settlement.

It is well known that overseas job seekers tend to want to live in the big cities like Sydney and Melbourne but the government is keen to encourage them to think about other parts of the country where just as many opportunities are available.

The Government has introduced legislation to establish the $5 billion Northern Australia Infrastructure Facility (NAIF), a centrepiece of the White Paper on Developing Northern Australia.

northern-territory

“With 40% of Australia’s land mass but only around 5% of our population, the potential for economic growth in our north is enormous. The NAIF will support this growth and complement private sector investment,” said Josh Frydenberg, Resources, Energy and Northern Australia Minister.

The NAIF offers loan funding of up to $5 billion to encourage private sector investment in airports, ports, roads, rail, energy, water and communications with the aim of driving growth and attracting more people.

Frydenberg said Northern Australia has been hampered by the difficulties of attracting long term investment. Under the new approach, the Commonwealth will partner with the private sector and the governments of Queensland, Western Australia and the Northern Territory to provide funds at concessional terms for major projects.

Some 40 projects valued at $21 billion have already been identified as potentially worth funding through the facility. The focus is likely to be on building roads, developing water resources and building a sustainable workforce.

Recently appointed Northern Australia Minister Matt Canavan, wants to create a kind of Brisbane line in reverse. “I want an Australia where people want to move to north of the Tropic of Capricorn so they too can benefit from the huge opportunities that are here,” he said.

“Doing this is important for our whole nation, not just the north. Further growth and development in Northern Australia will help grow the national economy as a whole, and take pressure off our congested capital cities,” he added.

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