New investment team leading the Territory
A new investment team will lead the whole-of-government effort in attracting and securing investment in the Territory.
It is one of the key recommendations of the Langoulant Plan for Budget Repair and has one purpose - to create local jobs through private investment.
Investment Territory will pursue investment and make sure investors are supported from their first interest in the Northern Territory through to an investment outcome.
The 40 strong team, is part of the Department of Trade, Business and Innovation and will be led by current department executive Luke Bowen. The team has been made up of staff from across the Northern Territory Government.
Last month the Territory Government announced details of its $89 million co-investment fund aimed at creating more local jobs and accelerating major and significant projects in the Territory. The fund will be administered by Investment Territory.
Using the Local Jobs Fund, Territory businesses will be able to get projects investment ready, undertake detailed feasibility studies, leverage private sector finance and investment and reach financial close.