CROC INDUSTRY WORTH MORE THAN $100M TO AUSTRALIAN ECONOMY

CROCODILE farming is big business in Australia's top end, with the industry contributing over $100 million to the Northern Territory economy.

The overall value of the industry in 2014/15 to the tourism, farming, and veterinary sectors was $107 million, and created 264 full-time jobs, according to an Ernst and Young report.

These new figures are over four times the previous valuations of $25 million.

NT Chief Minister Michael Gunner says he is not surprised at the monetary value of the crocodile farming industry.

"We know that our beloved crocodiles are a massive tourism magnet to the territory, but now we also know just how much the farming industry plays in terms of their economic impact and potential," says Gunner.

The Ernst and Young valuation will assist in gaining support from the federal government to boost exports.

The industry is important to remote Indigenous communities too, according to Gunner. Read more

David Simmons - Business News Australia - 27 July 2017