The Victorian Government’s 2011-12 budget has provided $500 million over the next for years for the Regional Growth Fund, a new initiative promised by the Coalition last year as an election policy.

 

The Colaition’s policy document stated that the Regional Growth Fund would be available for projects in regional Victoria which:  

  • provide better infrastructure, facilities or services;
  • strengthen the economic base of communities;
  • create jobs and improve career opportunities for regional Victorians; and
  • support local project development and planning.

 

Mayors and CEOs from Victoria's 10 largest municipalities have met with Deputy Premier and Minister for Regional and Rural Development Peter Ryan and Minister for Regional Cities Denis Napthine to discuss the initiative.

 

Minister for Regional Cities Denis Napthine said the Regional Growth Fund would provide flexible funding that balanced strategic regional goals with investment in local community infrastructure.

 

"The Regional Growth Fund reflects and embraces community and regional priorities as part of the Coalition Government's commitment to build a better future in regional and rural Victoria," Dr Napthine said.