An expert Investment Committee has been appointed to the Territory Labor Government’s multi-million dollar Local Jobs Fund.
The $89 million co-investment fund is aimed at creating more local jobs and accelerating major and significant projects in the Territory.
The Committee will provide advice to the Government and Ministers in relation to applications for support and on the structuring of transactions. The Committee is made up of credentialed and experienced private sector representatives with strong backgrounds in investment banking, finance, legal and commercial negotiations. The Committee is:
Ms Felicity Gates (Chair) – founding Partner and Chair of Castlebridge Infrastructure and former strategic consultant to a major Australian pension fund
Mr Bill Reeks – recently retired Executive Director Macquarie Bank
Mr Lachlan Drew – Managing Partner Minter Ellison, Darwin
Mr Charlie Falanga – long term Darwin resident and owner of Astute Finance; 35 year corporate banking veteran and former Regional Executive with NAB, NT
Strong interest has been received from local businesses wanting more information about the four products* available in the Local Jobs Fund with the Department of Trade, Business and Innovation already in discussions with a large number of potential applicants.
The Local Jobs Fund has been designed to bring forward and leverage private investment in the Territory’s growth and developing sectors or sectors in which the Territory has a comparative advantage. It will operate for two years or until fully committed. For more information and to apply visit https://jobsfund.nt.gov.au/home
Quotes from the Minister for Trade and Major Projects, Michael Gunner
“We have a clear plan to stimulate private sector investment, create jobs and promote economic growth.
“Having a Committee of this calibre will help facilitate trade and business projects, providing a ripple effect across our economy and our community.
“We’re in a unique position with valuable natural resources and growing markets on our doorstep.
“We’re ready to capitalise on these opportunities.”
*see attachment for the full suite of products available
Media contact: Cameron Angus 0404 021 192.