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New program to fund future developments

August 25, 2023 7:27 am in by
Concept images of the new Geelong Convention Centre (Image: Development Victoria).

A new $400 million regional precincts funding program announced by the federal government is set to help develop growing areas around our region.

The Precincts and Partnerships program will help fund proposals for precincts, or hubs, that bring together services and infrastructure in regional places.

Regional Development Minister Catherine King said the program is about partnering with communities to deliver their priorities.

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“It’s all to fund the precincts that you see and the transformation that you’ve seen of Geelong, with the Convention Centre, with the art gallery and the library,” Minister King said.

“It’s really trying to make sure that people have the amenity and can enjoy that within their own areas,” she said.

“Really it’s about trying to make sure that those partnerships are there right at the start of the development.”

Applications are open to partnerships led by state, territory and local government agencies or bodies, regional universities, and incorporated not-for-profit organisations.

The Government has allocated $400 million to the program over three years, with $100 million available for 2023-24, and $150 million in the 2024-25 and 2025-26 years.

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