The Federal Government is helping to drive research and attract forestry investment to the Northern Territory through the establishment of a regional forestry hub.
The Territory’s forestry industry is primed to expand, export and create with a hub that will help bring positive change to the Territory, and Northern Australia more broadly.
It will drive innovation and opportunities for new plantations, as well as the jobs, supply chains and infrastructure needed to support domestic consumption and export.
The local forestry industry is well-placed to become a global leader in the development of smart, high-value products, business models and supply chains.
Assistant Minister for Forestry and Fisheries Jonno Duniam said the Northern Territory was an area with high potential for forest industry growth.
“This hub will support innovation and growth in the forestry sector, which will provide the wood and forest products that Australians will use now and into the future,” Assistant Minister Duniam said.
“I have had discussions with industry representatives from the Northern Territory on the great potential for forestry in the region and look forward to hearing from the industry as the hub develops.
“The Australian Government is committed to working with the forest industry to help them achieve their goal of planting a billion new plantation trees over the next decade.”
Regional Forestry Hubs
- The Australian Government is providing more than $10 million over 4 years for existing Regional Forestry Hubs and the establishment of two new hubs in Eden NSW, and the Northern Territory
- Another $1 million is being provided for a feasibility study into an Australia-wide National Institute for Forest Products Innovation
- The NT Hub will study how the local forest industry can value add, by processing forest products and creating jobs for Territorians
- Despite drought, COVID-19, floods and fires, the farming, fishing and forestry sectors are projected to be worth over a record $78 billion in production value this year
