Infrastructure projects are being fast-tracked throughout regional and rural Victoria, in a bid to help the state’s recovery and support local communities.
Victorian Minister for Regional Development, Mary-Anne Thomas, announced the new Investment Fast Track Fund is open for applications, as part of the State Government’s program to support regional areas.
“The new Investment Fast Track Fund will support the recovery of communities large and small, and ensure Victoria continues to have our nation’s most vibrant regional economies,” Ms Thomas said.
The Investment Fast Track Fund will help take projects from the ideas phase to the development stage, with grants of up to $500,000 available to local councils, community organisations and the private sector for planning, design and business case works.
This funding is part of the State Government’s $156 million Regional Jobs and Infrastructure Fund, which aims to help businesses create jobs in regional Victoria – whilst supporting councils to build the infrastructure locals and tourists need.
The State Government has announced almost $700 million in funding and created around 11,000 jobs across regional and rural Victoria since the Regional Jobs and Infrastructure Fund was established in 2015.
The Investment Fast Track Fund aims to support a new pipeline of projects across Victoria, to encourage continued private sector investment.
“Our continued investment in regional and rural Victoria provides ongoing job opportunities and better facilities for locals and visitors right across our state,” Ms Thomas said.
The opening of the Investment Fast Track Fund comes after the recent announcement of the Regional Infrastructure Fund – Stimulus Round.
As a part of the Regional Jobs and Infrastructure Fund, the stimulus round aims to create jobs by funding priority community projects that can be activated quickly, helping regions to recover and thrive.
Applications for the second round of the Regional Infrastructure Fund’s 2020/21 program are due to open on 16 June 2021.
The Regional Jobs and Infrastructure Fund is central to the State Government’s almost $30 billion investment in rural and regional Victoria since 2015.
Information and guidelines for the Regional Jobs and Infrastructure Fund can be found here.
