Enterprise Geelong Monitors the Media for Topics Relating to Our Economy

REGIONAL ECONOMIC NEWS SUMMARY

Enterprise Geelong monitors the media for topics relating to our economy. May 2017

The State Government has included $210m funding for local rail services in the 2017/18 budget, these funds will support a second platform and pedestrian crossing at Waurn Ponds, Pre-duplication works between South Geelong and Waurn Ponds and land purchases towards Torquay Geelong Advertiser 1 May 2017

$1.6m has been committed to the Geelong Waterfront in the 2017-2018 COGG Draft budget, funds are to be spent on rebuilding Ritchie Boulevard baywalk, safety repairs and installations of disability access at The Beach House, replacing corroded metal sea ladders and bars in the swimming enclosure, and $35,000 is allocated towards the realisation of the $20m mineral spa and wellness centre on Hearne Parade.

Geelong Advertiser 1 May 2017

There is $311.1m for V/Line in the State Governments 2017/18 Budget for 39 more carriages and $316.4 million for rail maintenance.

A $200m hotel has been proposed for 44 Ryrie St by new owners Franzé Developments, plans for the mixed use project comprise of approximately 1,000 square meters ground floor retail, 5,000 square meters office space, serviced apartments totalling 90 rooms and a 200 bed hotel.

ACCOM NEWS 4 May 2017

City of Greater Geelong has plans for Clifton Springs underwater sculpture park, with an artificial reef this will be a significant tourism drawcard for the Bellarine.

Bellarine Times 4 May 2017

Victoria’s largest residential aged care home is to be built in Wallington, Ireland Brown Constructions will commence the $24 million construction in August 2017 combining the current Homestead Lakes and The Homestead facilities into a single 260-bed centre. The centre will include a community hub, allied health services, a retail healthcare outlet and a pathology collection centre.

New V/Line timetabling includes 69 new rail services for the Geelong corridor, which is Victoria’s busiest, including 30 new weekend services. Geelong Advertiser 10 May 2017

Ryman Healthcare have announced plans for a $100m retirement village in Highton, the complex will have a mix of independent living and assisted living apartments and an aged care centre to cater for between 250-300 people. Geelong Advertiser 16 May 2017

Corelogic ranks Belmont as Victoria’s biggest auction suburb, to date 2017 Belmont had 60 sales from 76 auctions with a clearance rate of 78 per cent, REIV figures show that Greater Geelong has the largest auction market of any regional centre with 424 held this year with Geelong’s median house sale price now $700,000.

The Federal Budget includes; $100m toward rail line duplication for the South Geelong- Waurn Ponds section, a $20 million Regional Jobs and Investment program for Geelong, continuation of the Building Better Regions Fund with an injection of $200 million via a $472.2 million new Regional Growth Fund to provide 27 grants of $10 million or more. An extra $22.5 million for third round delivery of a Stronger Communities Program and continuation of the Regional Development Australia Committee program with $74 million for 2017-2018 to 2020-21. Surf Coast Times 18 May 2017

Source information is for general reference. Regional Economic News Summaries may contain additional information from; related articles on different dates, other publications or media releases.