More Investments in Victoria to Promote Growth
The pandemic really had impacted us in such a way that it makes it difficult to take risks. For instance, before the pandemic hit due to the COVID-19 virus, people have been all over the place trying new things, investing here and there but now there’s uncertainty. With everything that has been going on in the world, it makes a lot of sense why investing in something is the last priority.
In Victoria, Australia it seems like there is an actual interest in creating more investments. The Andrews Labor Government is stimulating investment in towns and cities across the state. This is by helping local councils with the planning as well as the delivery of residential lands. Speeding up this investment will make wonders for the economy, for sure.
On April 1st, Minister for Planning Richard Wynne announced $2.7 million worth in grants that have been provided to 21 councils. This grant is under the Streamlining for Growth program which was established to create jobs in the state that will definitely drive the economy.
In our previous blog post, More Jobs in Victoria: How the State Will Boost Economy, jobs in the state of Victoria continue to grow. According to the latest statistics, unemployment fell to 5.6% after its peak in June of last year. The grants in the program include $8,000 to the Greater Dandenong City Council to “identify barriers to investment and find new ways to streamline the development of Central Dandenong.” Part of the program involves the removal of the five percent infrastructure recovery charge from developments on privately-owned land in Central Dandenong.
Other areas like Bass Coast Shire Council are slated to receive a $100,000 grant to help encourage private investment in the Bass Coast. This grant will be used to make sure land use controls are aligned with tourism strategies locally. Other councils including Moorabool Shire Council, Ballarat City Council, Frankston City Councill are all receiving grants as well.
The Streamlining for Growth program is under the management of the Victorian Planning Authority, which aims to provide support to Melbourne and regional Victoria. The program is set to provide capacity building for councils in the states. Minister for Planning Richard Wynne maintains that supporting councils to get their projects approved faster will definitely help in creating jobs and driving Victoria’s economy to recover much quicker. Funding plays a fundamental role in making all these possible, so with the approval, councils across the state will be able to streamline the planning processes.
We will still have a long way to go but programs that will support future investments are vital as the country recovers from the pandemic.