I think the north should be developed but I think it is a waste of time and money to develop boring agriculture. Dam the rivers - I'm all for that, but use the water for maximum value added ROI. I'm thinking tourism.
Massive raging water slides for the kids.
Barramundi World where the barra are trained to perform acrobatics in brackish water for a fifteen minute show every hour.
Croc Dundee world where you get to feed and wrestle with the crocs.
Water Buffalo paint ball.
I'm on a roll...