A new Deloitte report shows the value of investment projects in Victoria grew to $76 billion by the end of June.
The Deloitte Access Economics (DAE) Investment Monitor Report found an increase of 3.1 per cent over the quarter, which compares to a decline of 5.9 per cent across the nation.
17 projects worth $8.3 billion in total were completed in Victoria between April and June 2017, including more than $1 billion in works to remove dangerous level crossings and rebuild Victorian train stations.
The report shows Victoria’s investment profile is dominated by the transport sector, which accounts for more than three quarters of all engineering projects in Victoria.
“The Labor Government is getting on with delivering the Metro Tunnel, removing congested level crossings and upgrading every passenger line in regional Victoria,” said Acting Treasurer Gavin Jennings.
“Our infrastructure investment of $10 billion a year over the next four years is delivering jobs and building the transport links that hard working families need.”
With the $10.9 billion Metro Tunnel project now underway, agreement reached on delivering the $1.5 billion Regional Rail Revival Project, alongside more than 80 public and Public Private Partnership (PPP) projects under construction and in the pipeline, the Labor Government said it is working hard to ensure investment in the state’s future.
The DAE Investment Monitor report follows the release from the Australian Bureau of Statistics confirming more than a quarter of million jobs have been created in Victoria since November 2014.