Our Community has identified a vibrant economy as one of the outcomes in Council’s Community Plan. To address this in a planned manner, Council has developed the first Palmerston Local Economic Plan.

This Plan, which was written by our community, for our community, challenges all of us to work together to make Palmerston a destination city for employment and a place where businesses are encouraged to set up and grow.
 
In response, Council is partnering with the Northern Territory Government to undertake economic planning and engagement in our community.

Participation and feedback 

In April 2019, we sought community participation to assist with drafting the Palmerston Local Economic Plan.

Local businesses and the community were invited to participate in a workshop, complete a short online survey or stop by one of our pop-up stalls held in local shopping centres to submit their feedback. Feedback for this consultation closed on Wednesday 10 April 2019 and we are now finalising the Palmerston Local Economic Plan.

Key documentation

Economic Development Plan - Data Paper

Timeline

The Palmerston Economic Plan is in the final stages of development and is scheduled to be completed and presented to Council in early 2021.

Information

Palmerston currently makes a significant contribution to the Northern Territory economy. Our contributions are supported by the following statistics of Palmerston:

• We have a young and growing population with a median age of 30 and over 50% of households being couples with children.
• During the 2018-2019 financial year, we contributed to just under 7% of the NT economy, with $1.6 billion of output and a 4% average annual growth in output over the last five years.
• Economic activity is concentrated in construction, retail trade, public administration and safety, education and training and health care and social assistance.
• During 2019-2020 financial year, 86% of Council expenditure occurred in the Top End resulting in $44.9 million being spent locally.
• Council already applies a 20% weighting for local businesses as part of its procurement.
• As part of the 2021-2030 Long Term Financial Plan, Council is forecasting to spend $85.861 million on renewal, upgrade and new infrastructure over the next 10 years.

Council acknowledges the support and partnership of the Northern Territory Government. Their partnership and financial contribution will help Council to continue to achieve objectives of the Northern Territory Economic Development Framework and Council’s Community Plan.