Indigenous Economic Development Strategy 2009–2012

The Indigenous Economic Development (IED) Strategy 2009–2012 launched in Alice Springs on 6 October 2009 by the Minister for Regional Development, Karl Hampton, is the Territory Government’s blueprint for Indigenous economic development.

This Strategy follows a review of the 2005 – 2008 IED Strategy, and has been developed in consultation with the NT Indigenous Economic Development Taskforce and key stakeholders.

A series of community consultations is scheduled across the Territory to roll out the Strategy. These sessions are planned for late 2009 and will continue at various stages throughout the life of the Strategy.

The Strategy promotes improved training, employment and business participation/ownership outcomes for Indigenous Territorians.

Key messages in the strategy are:

1. The use of a place-based approach to Indigenous economic development, focussing on assets and strengths of each location – rather than a “one-size-fits-all”.
2. There is a role for the private sector in IED in the Northern Territory
3. Access to Indigenous land is a key priority for Indigenous economic development “ on country”
4. There are commercial opportunities in Indigenous communities; partnerships and joint ventures are needed.

An Action Plan

The Action Plan contains a range of Territory Government initiatives designed to enable Indigenous Territorians to achieve their economic aspirations.

These are:

• Literacy and numeracy
• Economic and financial literacy
• Land access
• Commercial partnerships based on mutual understanding
• Infrastructure and service delivery
• Business support
• Work readiness

A Plan on a Page

Download pdf file here

Outlines the key steps which are the foundation of the Strategy for achieving Indigenous economic development:

• Principles and Foundations – outlines the manner which Indigenous economic development is pursued in the Territory
• Assets – describes the current assets owned by Indigenous Territorians that have the potential to be developed into an economic base
• Business and Industry Opportunities– lists the sectors that can be developed in response to the availability of local natural resources, and the talents and skills of individuals and groups
• Tools – the support that Indigenous Territorians require in order to maximise opportunities and increase participation in the economy
• IED Outcomes   and Target – employment, business participation and ownership and building of financial wealth, including home ownership

Government doesn’t have all the solutions and this Strategy acknowledges the need for private sector involvement. There are many opportunities for commercial partnerships and direct investments with Indigenous Territorians. This Strategy provides a way forward for those activities.

All private sector businesses are encouraged to look at the opportunities for doing business with and partnering with Indigenous Territorians. This Strategy provides the framework for those negotiations to occur.

This Strategy is as much a response to the desires of Indigenous Territorians as it is the future direction for the government and all people of the Northern Territory.