The Northern Territory Government has developed a new <a href="https://haveyoursay.nt.gov.au/38601/documents/85115">Territory Benefit Policy</a> to capture local benefits for Territorians from private sector projects in the NT.Major private sector projects are big contributors to the Territory. The Territory Benefit Policy encourages project proponents, early in their planning phase, to understand the capabilities of the local industry and workforce. This draft policy challenges proponents to consider what strategies they can adopt to enhance the local benefit outcomes their project delivers, while realising the long-term advantages of having locally-based, capable suppliers and labour.The need for this new policy was identified during the Territory Economic Summits and has been included for action in the Economic Development Framework. This proposed policy will replace the current Building Northern Territory Industry Participation Policy.The positive changes that Territorians will see from the proposed policy:<ul><li>The new policy provides clear guidance for project proponents to develop a Territory Benefit Plan that maximises opportunities for Territorians and Territory Enterprises.</li><li>The Building Northern Territory Industry Participation Policy focused on local suppliers of goods and services, and the new Territory Benefit Policy broadens this focus to workforce development, employment, Aboriginal employment, and local investment.</li><li>The requirement for a communications strategy to be part of the Territory Benefit Plan. Project proponents will be required to publicly share their key commitments, report on outcomes achieved from the Territory Benefit Plan and engage with stakeholders and industry groups to promote project opportunities.</li><li>The proposed policy encourages proponents to adopt a &lsquo;shared value&rsquo; approach, which sees companies working collaboratively with local communities to deliver positive social outcomes, creating value for both the project and community.</li><li>The new policy reduces duplication with other NT Government policy by limiting its focus to private sector projects. Government procurement is not included in the new policy as it is covered by the NT Buy Local Plan.</li></ul>

Territory Benefit Policy

Have Your Say Northern Territory

An individual

A sole trader

A small business (25 employees or less)

A large business (greater than 25 employees)

An industry association

A project proponent

Other

Alice Springs

Tennant Creek

Katherine

Nhulunbuy

Darwin

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