Private sector investment fund opens on Shipwreck Coast, Victoria

The Morrison Government, in partnership with the Andrews Government, is investing in public infrastructure projects that will boost private investment along the Shipwreck Coast through the $23.4 million Private Sector Business Enablement Fund.

The Private Sector Business Enablement Fund is a key component of the $108.15 million Shipwreck Coast Priority Projects, which seeks to support investment in priority projects to improve facilities and help to boost tourism across the region, particularly for when international travel resumes.

The Shipwreck Coast Priority Projects are a series of initiatives funded within the Geelong City Deal –a $382.48 million commitment between the Australian and Victorian governments and the City of Greater Geelong to revitalise the city and regional economy by helping the region to capitalise on its natural assets and encouraging visitors to spend more time in the region.

The Fund will give priority to projects that are investment-ready, including upgrades for roads, power, bridges and communications, to ensure shovels in the ground sooner and to help to drive economic activity as we continue our recovery from the global pandemic.

Successful projects will complement the development of the new Visitor Experience Centre at the Twelve Apostles, providing an improved, safer and more connected experience for visitors.

Projects will be initially assessed via an Expression of Interest process conducted through Regional Development Victoria, leading to a formal invitation to apply.

For more information on the Geelong Shipwreck Coast City Deal, visit www.citydeals.infrastructure.gov.au/geelong.

For more information on the Private Sector Business Enablement Fund, visit https://www.rdv.vic.gov.au/grants-and-programs/geelong-city-deal.

Quotes attributable to Federal Minister for Communications, Urban Infrastructure, Cities and the Arts, the Hon Paul Fletcher MP:

“The launch of the Private Sector Business Enablement Fund signals progression of the broader Twelve Apostles precinct redevelopment project, with planning for coastal works well underway.

“The Fund will help drive private investment projects in the Shipwreck Coast Precinct, which will enhance the visitor experience.”

Quotes attributable to Victorian Minister for Regional Development, the Hon Mary-Anne Thomas MP:

“This investment will improve the visitor experience at the many attractions that make the Shipwreck Coast famous around the world, including the Twelve Apostles.”

“It will bring more visitors, drive economic activity and create important local jobs, making the region an even better place to live, work, visit and invest.”

Quotes attributable to Federal Member for Wannon, the Hon Dan Tehan MP:

“This new Fund will assist our region as we recover from the economic impacts of the COVID-19 pandemic and the loss of international tourism.”

“The private investment supported by the fund will also provide a welcome boost to the local economy and improving the visitor experience in the Shipwreck Coast Precinct.”