The Victorian Government has announced a $1.5 billion investment in Avalon Airport to develop an industrial precinct to create jobs and boost the local economy.
The funding will enable the development of a 40 hectare industrial precinct on the vacant north-west corner of the site that will help diversify its operations and attract further investment.
A key part of the infrastructure project will be the delivery of high voltage electricity, gas, water, fibre optics and communications infrastructure.
Victorian Premier Daniel Andrews said, “Avalon Airport has a bright future ahead of it and with this investment it has the potential to be a major industrial and commercial jobs hub.
“When we got elected, Avalon was under threat. Not only have we saved and grown passenger services but we’re helping write its next exciting chapter.”
Avalon Airport is Victoria’s second major airport and is home to the biannual Australian International Airshow.
The Victorian Government’s investment towards the $5 million infrastructure project will ensure Avalon can reach its true potential by unlocking the proposed industrial precinct.
Member for Lara John Eren said, “We’ve already saved Avalon Airport, and now we’re growing it. An industrial precinct will mean more jobs for locals and a stronger economy.”
It is estimated by 2026, the project will have created 750 direct jobs on site and up to 1100 indirect jobs.
“The Labor Government is working hard to ensure businesses realise their full potential,” Victorian Minister for Regional Development Jaala Pulford said.
“It’s why we’re getting on with creating job opportunities and investing in projects that make a difference.”
Developing the industrial precinct will also make it ready for investment that will further expand the sites use and create more jobs for the Greater Geelong region.
“Avalon Airport is grateful for the Victorian Government’s contribution towards its investment in establishing a new industrial precinct,” Avalon Airport Executive Chairman David Fox said.
“This project is the first since the approval of the Master Plan in September last year and provides a great opportunity to diversify businesses and generate jobs for the region.”
This announcement follows the Victorian Government’s strong support for Avalon Airport, which includes delivering a landmark 10 year agreement with Jetstar to protect and enhance passenger services.
Funding has been provided from the Regional Jobs and Infrastructure Fund.