NT Government completes review of the Territory Benefit Policy
The Department of Industry, Tourism and Trade has completed the first review of the Territory Benefit Policy since its establishment in 2019.
Territory Benefit Policy
The Territory Benefit Policy aims to maximise benefits for Territorians from private sector projects by providing opportunities for local suppliers and workers to work on the project; and by encouraging proponents to implement positive social outcomes for the community in which the project operates.
Proponents demonstrate these benefits through development of a Territory Benefit Plan (Benefit Plan) which is considered and approved by the Northern Territory Government (NTG).
Private sector projects must develop a Benefit Plan if they are awarded major project status by the NTG; receive financial or in-kind support from the NTG valued at or above $500,000; or if it is a condition of an NTG agreement. For all other projects, development of a Benefit Plan is voluntary and encouraged.
Review findings and recommendations
The review aimed to assess awareness of the policy; examine how the policy is implemented; review the process of developing a Territory Benefit Plan; and identify opportunities for improving the policy and processes.
Significant stakeholder consultation was undertaken as part of the review, including a survey that was circulated to major project proponents.
The overwhelming majority of stakeholders consulted supported the Territory Benefit Policy and provided feedback to indicate improvements could be made to streamline administration of the policy, increase awareness, and enhance mechanisms to support compliance.
The review made a number of recommendations to address these findings, which have been accepted by the Territory Government and will be implemented in 2024. You can read about the recommendations in detail on the Territory benefit policy and planning.
