Govt pumps $1.2 billion into Melb projects

The push to crank up the Victorian economy will include shovel-ready projects worth more than $1.2 billion being fast-tracked over coming months.

The Victorian government on Monday announced it has brought forward building and construction projects, which will create thousands of jobs.

The projects are pending planning approval, but it’s hoped works will start soon.

Melbourne’s CBD will feature a 68-storey development worth $234 million and a $290 million 21-storey office building, among other projects, kickstarting their construction to help bring the city back to life after coronavirus.

The government’s criteria to fast-track certain building applications as part of its Building Victoria’s Recovery Taskforce focuses on proposals with adequate financing that are shovel- and market-ready.

Some of the criteria are that they are of significant capital expenditure, plus they safeguard existing jobs and create new ones.

“Victoria remains open for business and our dedicated taskforce is making sure a pipeline of projects continue to stimulate the economy,” Planning Minister Richard Wynne said.

The announcement is part of the construction blitz package of $2.7 billion set by the Victorian government.

The package is forecast to create 3700 direct jobs for people in the construction sector and thousands more roles for people throughout supply chains.

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