AFTER attending the Royal Australian Air Force’s 94th birthday celebration at RAAF Base Tindal last week, it is clearer than ever that the long-term growth of Katherine hinges on people, not boom industries that are at the mercy of international commodity markets.
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Despite the Northern Territory government’s unofficial assertion that mining and gas exploration will supercharge development in the Top End, recent evidence would suggest that using resources, and not people, as a primary growth tool is a strategy fraught with danger.
Unlike those centred around resources, industries that have people at the core of their operation are less likely to be shelved when the going gets tough.
Tumbling global iron ore prices sounded the death knell for Sherwin Iron and Territory Iron - and immeasurable spending in the Katherine region - last year, and less-than-impressive international prices for gas have caused explorers like Santos to essentially shelve any project not in a position to generate a profit within 18 months.
Development will undoubtedly be reignited and fanned by a tsunami of media hype when global markets improve, but do not be surprised when the projects are once again put on the backburner if the price of gas takes another downward spiral.
At the other end of the spectrum, about $500 million is scheduled to be spent on upgrades to RAAF Base Tindal as the Defence Force prepares for the arrival of the F-35 Lightning II Joint Strike Fighter.
The transformation will go ahead irrespective of what countries are willing to pay the Territory’s mineral resources.
Which plan is likely to generate more jobs for Katherinites and greater economic sustainability for the community?
