The Andrews Labor Government today announced a $10 million Economic Facilitation Fund to support the creation of new jobs and diversify the Latrobe Valley economy.
Minister for Industry and Employment Wade Noonan today joined Minister for Regional Development Jaala Pulford and Member for Eastern Victoria Harriet Shing to launch the fund, which will help attract crucial economic investment.
The $10 million Economic Facilitation Fund will focus on growing existing and future industries to create jobs and leverage the Valley’s competitive strengths to attract new investment.
A new dedicated economic development team will be established in the heart of the Latrobe Valley, as part of Regional Development Victoria.
The new team will work with local businesses and stakeholders to realise growth opportunities for existing and new businesses and ensure that the mistakes of former schemes aren’t repeated.
The Labor Government is committed to consulting widely on a range of opportunities in the Latrobe Valley as part of its $40 million Economic Development Program to grow future industries, build long-term skills, and support jobs growth.
Today’s announcement forms the first part of the overall $40 million package. The Labor Government will now consider local feedback for further programs, and will work with regional stakeholders to identify and advocate for greater economic development opportunities.
Quotes attributable to Minister for Industry and Employment Wade Noonan
“The Andrews Labor Government will never abandon the Valley. Through this new fund, we will work hard with locals to create jobs and improve the economic opportunities for this proud community.”
“We have drawn heavily from the economic plans developed by the community to deliver this new $10 million economic facilitation fund.”
Quotes attributable to Minister for Regional Development Jaala Pulford
“We will work together to make the most of government, business and community efforts to ensure a strong future for the Latrobe Valley.”
Quotes attributable to Member for Eastern Victoria Harriet Shing
“The Latrobe Valley has huge potential and will benefit significantly from this proactive approach to attracting economic growth, innovation and investment to the region.”
Reviewed 19 August 2020