A $355 million City Deal has been signed off by the Australian, Victorian and Local Governments for Geelong to help boost the local economy and tourism industry. This major investment will help fund a number of projects that will revitalise Geelong and the Great Ocean Road regions.
“The City Deal will be a game-changer for hard-working families in Geelong and the rest of the region, by generating an extra $1.1 billion into the economy and delivering nearly 1,000 jobs every year,” Prime Minister Scott Morrison said.
The Geelong City Deal will cover a number of projects that will revitalise the region over a 10-year period. Projects include:
Geelong Convention and Exhibition Centre - a $171.2 million project that will deliver a new convention centre as well as a new hotel, retail, restaurants and commercial spaces that will attract business events and visitors to the region
Revitalising Central Geelong Action Plan - A $27.85 million investment that deliver a range of projects that will revitalise public spaces in central Geelong
Geelong Waterfront Safe Harbour project - A $3.5 million investment from the Australian Government that will aid in the transformation of the entire precinct as well as improve connectivity and public access to the waterfront
Shipwreck Coast Master Plan - a $108.15 million investment that will deliver priority projects under the second stage of the Shipwreck Coast Master Plan - a program that protects the coastline between Princetown and the Bay of Islands
Great Ocean Road Infrastructure Projects - $27.5 million towards projects that will improve the Great Ocean Road
Deakin University Future Economy Precinct - A $7.6 million investment for the expansion of the Deakin University’s Future Economy Precinct at its Waurn Ponds campus
Queenscliff Ferry Terminal - $10 million towards the construction of a new ferry terminal at Queenscliff to help improve ferry services crossing the heads of Port Phillip Bay
“The Geelong CIty Deal will transform Geelong and the Shipwreck Coast, creating thousands of new jobs and attracting visitors from right around the country,” Victorian Premier Daniel Andrews said.
An Implementation Plan will be jointly prepared by the Australian, State and Local Governments by late 2019 and it will aim to set key milestones as well as timeframes and who will be responsible for the projects.
“It means all three levels of government will continue to work together to align planning, create jobs and stimulate urban renewal.
“This will help make Geelong and the broader region an even better place to live in the future,” Minister for Cities, Urban Infrastructure and Population Alan Tudge said.
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Source: Minister for Cities, Urban Infrastructure and Population; Infrastructure Magazine; Prime Minister of Australia; Bay 93.9; City Deals