On 17 January 2018, the former Prime Minister, the Hon Malcolm Turnbull MP, and the Acting Premier of Victoria signed a Memorandum of Understanding, committing to work together on City Deals.
Geelong City Deal
The Geelong City Deal is a 10 year plan to revitalise Geelong and unlock the potential of the Great Ocean Road visitor economy. The Australian and Victorian Governments, together with the City of Greater Geelong, will deliver $502.48 million in investment to the region, supporting Geelong’s continued economic diversification, growth of the visitor economy and a thriving city centre.
All three levels of government jointly released an Implementation Plan on 8 October 2019, which sets out key milestones for projects, timeframes and responsibilities.
The Australian Government, Victorian Government and City of Greater Geelong continue to work collaboratively to deliver the Geelong City Deal, with construction progressing on several key initiatives.
The Geelong City Deal will deliver:
Tourism infrastructure projects along the Great Ocean Road, including for the Shipwreck Coast and other key locations along the Great Ocean Road, to strengthen the region as a leading tourist destination and ensure benefits flow to local communities.
Construction of the Geelong Convention and Exhibition Centre, to help drive the visitor economy in Geelong and generate new investment and development in the city centre.
Public realm improvements under the Revitalising Central Geelong Action Plan, to help establish a vibrant city centre and reinforce Geelong’s position as the gateway to the region.
A new ferry terminal at Queenscliff to improve services across Port Phillip Bay to Sorrento.
Road upgrades at Deakin University’s Geelong Future Economy Precinct to unlock new jobs and businesses and improve access at the site.
The Private Sector Business Enablement Fund (PSBEF) is a $23.4 million initiative under the Geelong City Deal.
The Australian and the Victorian governments are working in partnership to jointly deliver this program.
The PSBEF is a competitive grants program supporting infrastructure projects which will complement the development of the Visitor Experience Centre at the Twelve Apostles Precinct, and provide an improved experience for domestic and international tourists into the future. The enabling infrastructure funded by the PSBEF will stimulate investment in accommodation and visitor experiences that will attract tourists and stimulate the local economy across the region.