The Victorian government continues to invest in initiatives to stimulate the Victorian economy with an announcement that it will invest $2.7 billion in the construction industry.

The package will include:

• $500 million to upgrade 23,000 public and community housing dwellings and build 168 new homes
• $382 million for upgrades, maintenance and new experiences at tourism destinations including 50 kilometres of mountain bike trails
• A range of smaller projects including local sports facility upgrades, improvements in waterways and coastal areas, tree planting and graffiti removal
• Investment in transport infrastructure including 300km of regional track improvements, repairs at more than 15 train stations, local pier upgrades along the coast and $328 million to resurface and improve roads.
• $100 million to facilitate CFA and SES station upgrades and improve disability accommodation and mental health and aged care facilities.

The package will create 3,700 direct jobs as well as thousands of indirect jobs. The public housing project is to commence immediately with the rest of the projects to be underway within three to six months.

For more information visit www.premier.vic.gov.au/building-works-more-jobs-for-victorians/

The above information is a brief summary only and does not take into account your personal needs and is not a substitute for independent professional advice. We strongly recommend that you speak to your accountant as they will be able to provide you the most suitable advice for your individual circumstance and to ensure that you are also always receiving the most up to date information.