Victorian Budget: Priorities ignored, but some benefits

Leading into this budget, expectations were fairly low for any significant announcements for the Geelong region.  

Despite that outlook, the Committee for Geelong has been vocal on the need for investment into our region. Our pre-budget statement outlined several priority projects, including investment into Avalon, Central Geelong, and the Bellarine Link, tax reform to incentivise housing development, and improved public transport.

While these priorities were ignored in the budget, there were some announcements that will benefit the region. In particular, the doubling of support for Geelong Food Share was a reflection of both community need and the quality of service being provided.

There are some opportunities in this budget for Geelong and we must grab them.

$240m was allocated towards implementing the Economic Growth Statement. Given the Avalon Employment Precinct is called out as a priority, we would expect to see funding flow towards Avalon.

In addition, the budget includes a dedicated $50m regional funding stream within the $150m Victorian Investment Fund. This grant program will be aimed towards enabling projects within the Statement’s priority industries. While we await further details, this could be an opportunity for projects like the Geelong Renewables Terminal.

There will also be $5.3m invested in Victoria’s industry and defence supply chains to demonstrate readiness to support the Commonwealth’s strategic defence priorities and continue to create new jobs in advanced manufacturing. With Hanwha commencing operations at Avalon, and further defence industry interest in the region, this is another targeted opportunity to pursue.

The increase in Total Estimated Investment into Barwon Water’s alternate water grid will position it strongly for support in accessing the Commonwealth’s National Water Grid Fund.

While broader funding opportunities are welcomed, we need to see specific investment in our region to support its continued growth and economic development.

As projects like Metro Tunnel and the West Gate Tunnel near completion, infrastructure investment will ease. It is vital that regional projects are not overlooked in this process.

There is a reality that the ongoing investment into the Suburban Rail Loop is going to absorb a considerable amount of Victoria’s infrastructure spend for years to come. In a period of budget repair, where does that leave Geelong? Or the population living to the west of Melbourne’s CBD more broadly? The Geelong-Wyndham corridor can’t be left behind.

We will continue to work with the Victorian Government to advocate