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More than $6 billion of defence spending for the Northern Territory has been welcomed by the construction industry and training group Master Builders NT.
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The Australian and US Defence departments are expected to fund more than $6.23 billion in the Northern Territory, creating a surge in economic growth and jobs in the NT, according to the Billion Dollar Partnership independent report commissioned by MBNT.
The report, produced by ACIL Allen, shows the funding for 25 NT defence projects over the next five years could result in 7,500 extra jobs and a boost in the economic growth in the territory by nearly 5 per cent.
“This is a multibillion-dollar partnership between the Australian and US Defence departments and the construction sector. It’s going to create a surge in jobs, opportunities for thousands of businesses and other economy-wide benefits that will extend across the whole Top End,” MBNT chief executive officer Ben Carter said.
“The report also confirms the capacity of the construction sector in the Top End to deliver these projects.
“The DSR amplified the vital strategic importance of northern Australia and strengthening and expanding bases and facilities in the Northern Territory.
“It’s great news that such substantial progress is being made toward the achievement of that objective.”
