Strong investment growth is building a better Victoria

Victoria’s robust economy received a boost in the June quarter according to a report released today highlighting significant project investment in Victoria, Treasurer Michael O’Brien said.

The Deloitte Access Economics (DAE) Investment Monitor June 2014 report reveals investment in major projects right across Victoria.

The DAE report showed the value of investment projects currently under construction in Victoria, including private and public investment, is now $28.5 billion; an increase of more than 10 per cent compared with the same time last year.  [page 19]

“The Coalition Government’s commitment to delivering state-shaping infrastructure is building a better Victoria, driving investment and creating jobs,” Mr O’Brien said.

“This report demonstrates that there is strong business confidence in Victoria as a place to invest and do business.”

The DAE report notes that the $1.3 billion Comprehensive Cancer Centre under construction leads an extensive list of major health projects, with work also underway at Bendigo hospital, Box Hill hospital and the Royal Victorian Eye and Ear hospital.  [page 15]

“The largest construction project to start in the June quarter is the $277 million Epworth-Geelong Hospital. Investment of this scale by the private sector shows the confidence business and the community has in Victoria’s economy,”  Mr O’Brien said.

The DAE report also highlights that Victoria’s investment pipeline received a boost from the Coalition Government’s record $27 billion infrastructure investment in the 2014-15 Budget, including the job creating Melbourne Rail Link and the Western section of the East-West Link.

Last week the Coalition Government called for engineering and planning tenders on both projects.

Source: News Release Premier Denis Napthine, 31 July 2014

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