New measures in the 2020-21 Budget will make it easier for projects in Durack to access Australian government funding to help create jobs and economic development across northern Australia.
Federal Member for Durack, the Honourable Melissa Price, has welcomed the reforms following a review of the Northern Australian Infrastructure Facility (NAIF).
“The reforms will speed up funding decisions and widen the scope of projects eligible for funding. The changes followed a widespread review of the $5 billion NAIF program, and the government decision in July to extend NAIF’s operations for five years until mid-2026,” Ms Price said.
“We have listened to communities across the north and we are making changes to ensure NAIF has the flexibility it needs to further drive economic activity, create jobs, drive population growth and open up new opportunities for people across northern Australia,” Melissa Price said.
NAIF funding has already made a significant impact on developments in Durack, assisting operations like Strandline Resources Gascoyne development, one of the world’s largest mineral sands projects, announced in July.
The changes to NAIF will make sure more factors, including local jobs, regional income, and opportunities for local suppliers, Indigenous business and communities are considered.
To date, NAIF has invested around $2.4 billion in projects in health, education, resources, energy and agriculture, supporting more than 7,200 jobs in Australia’s north and supporting around $4.4 billion in total project value.
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Media contacts:
Rose Crane 0427 587 395. Rosemea.Crane@aph.gov.au