The project "Identifying Mechanisms and Data Collection Options to Aid Socio-economic Analysis of the NT Seafood Industry" brings several benefits to the Northern Territory seafood industry. By implementing suitable and cost-effective data collection systems and processes, the project enhances industry understanding and trust in data insights beyond regulatory requirements. This enables the industry to make informed decisions, secure access to resources, attract investment, and pursue development opportunities. The project also contributes to negotiations concerning Aboriginal-owned tidal waters, providing valuable information for industry adjustment and supporting Indigenous investment. By demonstrating the socio-economic value of the industry, it strengthens the industry's social license to operate, improves industry structure, and identifies growth opportunities. Additionally, the project addresses the lack of financial and economic information, enabling economic analysis and providing valuable advice to policymakers and decision-makers.