Northern Territory Investment Plummets, Calls for Smaller Projects

0:00Welcome to Adelaide News Today, two minutes of news that matter to Adelaide. Private investment in Australia's Northern Territory fell by 25 percent last year, dropping back to levels seen in 2021. This sharp decline had the non-duel and construction sector hardest, down nearly 50 percent, mainly after work wrapped up on the offshore barossa. Gas project. Earlier data shows a similar pattern in the late 2010s when investment also tanked following the Ickley's gas field completion. Local business leaders point to rising costs and a lack of steady work as the territory heads toward a slowdown. Owners and experts worry big projects alone create a boom and bust cycle. They call for more support for small and medium businesses through quicker approvals, local contracts and opportunities in housing and defense to keep workers and grow the population. The Northern Territory government is pushing major initiatives like the Darwin ship lift in the new Northern Marine precinct, now a special.

1:01Development area for faster progress. They've also pitched the Beelou sub-basin to investors overseas in places like Italy and the United States. Meanwhile, calls grow for spreading funds across smaller projects instead of huge ones aiming to build reliable economic depth and confidence among. Local firms. Support for this episode comes from our sponsor. See the description. Podcasts hit different when the sound comes from your pillow. Once you try it, it just makes sense, S-O-L-I, solelypillo.com. Made in AI.