New Fund To Drive Regional Jobs And Growth Secured

The Andrews Labor Government has delivered on a key election promise to establish a new $500 million Regional Jobs and Infrastructure Fund to create jobs and drive economic growth in regional Victoria.

The Regional Development Victoria Amendment (Jobs and Infrastructure) Bill passed the Legislative Council last night, formally establishing the Fund and securing $200 million worth of projects and programs committed under the Fund at the election.

Initiatives include $19 million for the landmark 144km Grampians Peak Trail, as well as major upgrades for the Geelong Performing Arts Centre and Eureka Stadium, and a new logistics precinct in Gippsland.

The Fund will also allow the Labor Government to fund new projects across regional and rural Victoria that will build critical infrastructure, grow jobs and support emerging industries.

Program design and application guidelines are currently being prepared, with the Fund due to come into effect from 1 July, 2015.

The Fund will invest in projects that will harness the strength of our regional communities, so we can attract more families and visitors and revitalise our regional communities and towns.

We want to ensure our regional families are supported to live healthy, safe and comfortable lives, and that we are funding the projects communities and businesses need to create jobs and drive growth.

In the jobs crisis that gripped our state over the last four years, regional Victoria fared the worst. Iconic businesses closed down, many more teetered on the edge and young people packed up and left town in search of jobs.

Our dedicated Regional Jobs and Infrastructure Fund will ensure we can invest in the projects we need to repair the damage caused by the previous Coalition Government and get regional Victoria back on track.

The recent 2015-16 Victorian Budget provided $500 million for the Regional Jobs and Infrastructure Fund.

Quotes attributable to Minister for Regional Development, Jaala Pulford

“Our $500 million Regional Jobs and Infrastructure Fund will create jobs and kick-start growth in regional Victoria, putting our regions back at the heart of Victoria’s economy.”

“It will help our regional communities stay strong and liveable by investing in projects that attract new residents, businesses and visitors.”

“The Coalition left regional Victoria in a jobs crisis. We’re getting our regions back on track.”