Civil Contractors Federation Victoria says the state’s new Trunk Infrastructure Fund can support regional contractors with a greater works pipeline
The Victorian government has launched its $15 million Trunk Infrastructure Fund, encouraging projects which support economic growth, new jobs and business creation in regional areas.
Trunk infrastructure – such as water, power and sewerage infrastructure, road network connections and NBN access – is essential to enabling new business investment in country regions, the state government says.
The Trunk Infrastructure Fund will offer grants of between $500,000 and $2 million to help develop or expand key sites, including industrial estates and employment precincts.
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Civil Contractors Federation Victoria has welcomed the announcement of the Trunk Infrastructure Fund, stating the infrastructure development projects will mean greater investment in pipelines of civil works for contractors with capacity.
Applicants of the Trunk Infrastructure Fund – such as local government authorities – will be required to co-contribute up to 50 per cent to infrastructure development projects in their region.
Applicants in Victoria’s 38 rural councils and Alpine resort areas will contribute at least one-third of the project’s value, while those in the 10 regional city council areas are required to contribute at least half.
“Through our Trunk Infrastructure Fund, we’re helping create more industrial land to draw new investment into our regions – this will mean stronger supply chains and more local jobs,” Victorian regional development minister Jaclyn Symes says.