Geelong City Deal: a major economic boost
Jubilation all round as the Federal Government confirm their $154 million contribution to the Geelong City Deal. This matches the State Government commitment made in the 2018 Victorian Budget.
It heralds visionary investment of many millions of dollars in major projects across years, driving growth and employment.
It also supports the continued transformation of Geelong by leveraging the strengths of the city and region. Funded projects will facilitate new private investment, create businesses and jobs that will allow the region to benefit from its natural assets, and encourage residents and visitors to spend more time in the Geelong and Great Ocean Road region.
A City Deal for Geelong and the Great Ocean Road has been a long-term advocacy priority for G21, which has led numerous delegations and meetings with federal and state politicians (and their advisers and public servants) when advocating for such an outcome.
The State Government in its 2018 Budget had already announced a $153 million package for a City Deal, following the signing of an MOU between the State and Federal governments and the City of Greater Geelong in February 2018. The
Federal Labor Opposition had also committed to provide $153 million to a City Deal if elected at the next national election. The City of Greater Geelong has also committed $15 million to a City Deal.
Geelong will benefit from a new state of the art convention centre at the Geelong waterfront along with public domain improvements, and infrastructure investments to revitalise and redevelop the city centre.
Updating tourist infrastructure at the Twelve Apostles, Glenample Precinct and Gibson Steps will support the area’s visitor economy, helping to better manage large numbers of tourists and enhance the visitor experience, while generating hundreds of local jobs.
It will improve access and safety, reduce congestion at key tourist sites and lay the foundations for private sector investment. It will also help disperse visitors throughout the region and shift the perception of the Great Ocean Road from a day trip destination to an overnight and multi-day visitor experience.
The Federal Government is now working towards finalising the deal with the Victorian Government which outlined its commitments earlier this year.
The City Deal will encourage more jobs closer to home in the region, strengthening and diversifying the regional economy and helping to sustain Geelong’s growth into the future. Key investments are:
- $57.5 million towards the Shipwreck Coast Master Plan – stage two priorities (a G21 priority under its Great Ocean Road project)
- $30 million for a Geelong Convention and Exhibition Centre (a G21 Priority Project)
- $20.85 million towards Revitalising Central Geelong, including the Green Spine and streetscape upgrades (a G21 Priority Project)
- $12 million towards redevelopment of Apollo Bay Harbour (a G21 priority under its Great Ocean Road project)
- $10 million for a Queenscliff Ferry Terminal Upgrade (a G21 Transport Pillar Project)
- $8 million towards Point Grey Lorne redevelopment (a G21 Economic Development Project)
- $5.35 million towards the Adventure Trails (Great Ocean Walk stages one and two) (a G21 priority under its Great Ocean Road project)
- $3.8 million towards the Deakin University Future Economy Precinct.
- $3.5 million towards the Geelong Waterfront Safe Harbour project (announced in September) (a G21 Priority Project)
- $2.2 million for other Great Ocean Road Tourism projects.