A $260 million expansion of Australia’s first stand alone fund to support regional infrastructure development will drive construction of world-class infrastructure in tertiary education, job creating industry, tourism, innovative water and cleaner energy projects and transport improvements.
Premier John Brumby today announced that under the $631 million Ready for Tomorrow: A Blueprint for Regional and Rural Victoria, the Victorian Government would renew and expand the popular and highly successful Regional Infrastructure Development Fund (RIDF).
Mr Brumby said RIDF would be topped up by $260 million, bringing the total Government contribution towards the construction of infrastructure for growth in regional cities and towns across Victoria to $871 million since the fund’s inception in 1999.
“Our Government is determined to support families living and working in rural and regional Victoria by building the right infrastructure for growth,” Mr Brumby said.
“When we came to Government we created RIDF to rebuild regional Victoria – to support communities to improve their competitive capacity, to drive economic development and to attract investment that created local jobs.
“Today you only need to walk down a main street of any town or city across Victoria to see evidence of this fund delivering for communities.
“Whether it’s Horsham’s Firebrace Street, the Wangaratta Performing Arts Centre, the Murray Goulburn Co-operative, Sovereign Hill in Ballarat or Australian Paper in Maryvale – the Regional Infrastructure Development Fund has helped to transform communities.”
The Ready for Tomorrow $260 million boost to RIDF includes:
- $75 million to build-up tertiary education: enhancing regional universities and TAFEs to provide more opportunities for young people to live and study in regional Victoria;
- $25 million for water and energy infrastructure: building innovative water projects and driving projects that go towards a cleaner, greener energy future;
- $25 million for industry development for regional jobs projects: supporting regional industries and creating thousands of new jobs;
- $25 million for regional tourism infrastructure: developing and promoting regional Victoria as a global tourist attraction to help bolster local economies, create jobs and ensure the state’s regions continue to prosper;
- $25 million for transport infrastructure: improving transport connectivity to, and between regional communities and connecting them with Melbourne;
- $25 million to preserve and improve the regional way of life: investing in social and cultural infrastructure such as performing arts centres and galleries.
- RIDF will also support infrastructure projects put forward by regional and rural councils, community groups and industry with more flexibility so that the best infrastructure outcomes can be delivered for communities.
The Victorian Government introduced RIDF in 1999. It provides support for regional and rural projects through funding grants towards infrastructure that delivers economic and social benefits to regional and rural communities.
Ms Allan said the RIDF would continue to preserve the lifestyles enjoyed by families in regional and rural Victoria.
“Ready for Tomorrow is a $631 million strategic investment by our Government to drive a new era of opportunity and prosperity in regional Victoria,” Ms Allan said.
“Feedback we’ve had from communities across Victoria is that they see RIDF as being vital to supporting their capacity build and expand infrastructure.
“That’s why we will deliver the single biggest boost to RIDF across key areas of tertiary education, sustainable industries, leveraging more jobs and investment, tourism, transport access and protecting the lifestyles of regional and rural families.”