$355 Million Investment Secures Geelong City Deal

When: Tue 17 Sep 2019
$355 Million Investment Secures Geelong City Deal


The agreement follows a further $45 million joint investment in the Shipwreck Coast Master Plan and Revitalising Central Geelong Action Plan.

Prime Minister Scott Morrison said the Deal will turbo-charge the economic potential of the tourism industry, boost emerging businesses and ensure Geelong remains a great place to live and visit.
“The City Deal will be a game-changer for hard-working families in Geelong and the rest of the region, by generating an extra $1.1 billion into the economy and delivering nearly 1000 jobs every year.
“This is what locals have been advocating for - infrastructure that delivers jobs and supports business.
“I am pleased to have been able to work together with Sarah Henderson and Premier Andrews to reach agreement and get this deal done.”
Victorian Premier Daniel Andrews said the agreement had locked in the delivery of the 1000-seat Geelong Convention Centre.
“We’ve fought long and hard to secure the remaining funding for the Geelong City Deal since we backed it a year ago.
“The Geelong City Deal will transform Geelong and the Shipwreck Coast, creating thousands of new jobs and attracting visitors from right around the country - and we’re proud to have led the way in delivering it.”
Federal Minister for Cities, Urban Infrastructure and Population Alan Tudge said he looked forward to further working with the local councils to deliver on the commitments under the City Deal.
“Today’s announcement supports the continued transformation of Geelong by leveraging the strengths of the city and the region,” Mr Tudge said.
“It means all three levels of government will continue to work together to align planning, create jobs and stimulate urban renewal.
“This will help make Geelong and the broader region an even better place to live in the future.”
Victorian Treasurer Tim Pallas said the Convention Centre would bring $350 million to the regional economy during construction and about $50 million each year once it is operating.
“The Convention Centre will support 270 jobs, boost tourism and drive new business growth in the region,” he said.
“The Deakin University waterfront car park site is set to be transformed to a valuable asset for Geelong and all of Victoria.”
The additional funding of $45 million brings the total Federal Government contribution to the Deal to $183.8 million with the Victorian Government providing $172 million.


Memorandum of Understanding
On 17 January 2018, the former Prime Minister, the Hon Malcolm Turnbull MP, and the Acting Premier of Victoria signed a Memorandum of Understanding, committing to work together on City Deals.

Geelong City Deal
The Geelong City Deal is a 10 year plan to revitalise Geelong and unlock the potential of the Great Ocean Road visitor economy. The Australian and Victorian Governments, together with the City of Greater Geelong, will deliver $370 million in investment to the region, supporting Geelong’s continued economic diversification, growth of the visitor economy and a thriving city centre. 

Key commitments
The Geelong City Deal will deliver:  
Geelong Convention and Exhibition Centre
The Australian and Victorian Governments are investing $171.2 million in a new Convention and Exhibition Centre in the city centre. The City of Greater Geelong is investing $3 million towards public realm improvements around the Convention and Exhibition Centre. The feasibility of a new hotel, retail, restaurants and other commercial offerings will also be explored. The Convention Centre and surrounding precinct will attract visitors from across the country and overseas, and position Geelong as a global and national competitor for business events.
$174.2 million
Revitalising Central Geelong Action Plan
The Australian and Victorian Governments are investing $27.85 million, alongside an investment of $10.28 million from the City of Greater Geelong, to deliver a range of projects to revitalise public spaces in central Geelong. This investment will support a vibrant Geelong city centre that attracts visitors, residents and businesses, boosting the visitor economy, and creating opportunities for new investment and jobs.
$38.13 million
Geelong Waterfront Safe Harbour project
The Australian Government is investing $3.5 million in the Geelong Waterfront Safe Harbour project, building on existing investments of $2 million from the Australian Government, $7.5 million from the Victorian Government and $3 million from the City of Greater Geelong. This will transform and activate the entire precinct, improving connectivity and public access to the waterfront, supporting tourism and community activities, ensuring year round visitation to the waterfront, and providing support for major events that contribute to the local economy.
$3.5 million
Shipwreck Coast Master Plan
The Australian and Victorian Governments are jointly investing $108.15 million to deliver priority projects under Stage Two of the Shipwreck Coast Master Plan.
$108.15 million
Great Ocean Road Infrastructure Projects
The Australian Government is investing $27.5 million to a range of other projects along the Great Ocean Road, to better accommodate tourists and reduce impacts of increased visitation on the local community.
$27.5 million
Deakin University Future Economy Precinct
The Australian and Victorian Governments are investing $7.6 million in the expansion of Deakin University’s Future Economy Precinct at the Waurn Ponds campus. The investment will drive the growth of emerging advanced industries building on the University’s strengths in advanced manufacturing, biotech, renewable energy, robotics and high value agriculture. New road capacity will also improve pedestrian safety on the campus.
$7.6 million
Queenscliff Ferry Terminal
The Australian Government is investing $10 million in the construction of a new ferry terminal at Queenscliff to improve ferry services crossing the heads of Port Phillip Bay. The project will deliver modern facilities, improved access, and new opportunities for retail developments, boosting passenger numbers and creating new opportunities in the local economy.
$10 million
Smart Cities
The City of Greater Geelong is investing $900,000 towards smart parking activities and $250,000 towards other smart cities initiatives, to deliver a range of projects using smart technology and data to provide greater public value and improved service delivery.
$1.15 million

Next steps
All three levels of government will jointly prepare an Implementation Plan by late-2019, which will set out key milestones for projects, timeframes and who will be responsible.

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