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Action four: Reach every community

A strong Victoria underpinned by a strong regional Victoria. Regional Victorian businesses have the lowest payroll tax rate in the country.

And employment has grown by 22% in regional communities since we came to government.

This growth hasn’t happened by chance. It’s been made possible through our record investment in regional Victoria.

That means building the transport, schools and hospitals regional communities need – and backing the jobs and opportunities that keep them strong.

But as we heard from industry – a strong Victoria relies on a strong regional Victoria.

It’s why as we grow our economy, we need to make sure that success is shared – with every corner of our state.

The initiatives of the Economic Growth Statement deliver. From a faster Environmental Effects Statement process, unlocking more industrial land, extending the Resources Victoria Approvals Coordinator and the reduction of regulators and red tape – these reforms will reach every part of regional Victoria.

At the same time, we’re making the targeted reforms that we know will make a difference for regional communities and regional economies.

Initiatives

Open all

By investing in trunk infrastructure – things like water supply, sewerage, roads and electricity – we will open up more industrial land across regional Victoria.

This investment would be delivered through open and competitive funding rounds, in which co-investment and ‘ready to go’, viable projects will be key to the assessment criteria.

This will be a shared investment – jointly funded by government and industry – with any funds raised by industry matched by the Government up to $7 million.

Focusing on international, intrastate and interstate audiences, this investment will boost visitation and Victoria’s tourism sector.

This investment leverages Victoria’s position as a leader in mRNA technology – with Melbourne the only city in the world to host both BioNTech and Moderna facilities.

RNA technology could increase the yield from broadacre and horticultural crops, reduce the need for insecticides by targeting Australian-specific pests, and reduce methane emissions from cattle.

Targeted investment will address regulatory challenges faced by businesses in Victoria’s regional communities.

Opportunities could include streamlining regulation of regionally focused industries (for example, freight and logistics, or food production) and digitising regional council systems.

These Launching Pads will offer new shared collaboration spaces, enabling regional businesses, entrepreneurs and investors to meet, work and collaborate.

In addition to bringing together local businesses entrepreneurs and investors, these spaces will be situated within government offices, further supporting the opportunity for growth.

The pilot will deliver five regional and one metro Launching Pad, anchored to the Regional Development Victoria office and GovHub network, in collaboration with the Geelong Chamber of Commerce, regional business chambers, and International Chamber House, Melbourne.

This will highlight business investment opportunities in regional Victoria for overseas and domestic businesses.

Updated 10 December 2024

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