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Investment in Geelong remains strong despite global financial climate
Wednesday, 2 September 2009
9:55 AM
Media Releases
Despite the current global financial situation, investment in the Geelong region remains strong with more than $670 million worth of development now underway.
Over the past 12 months there has been more than $826 million invested in Geelong from a large range of sectors. A further $677.9 million worth of development and construction is in progress, and more than $1 billion worth of projects are confirmed and awaiting commencement.
Projects completed in past 12 months:
• $380 million Geelong Ring Road
• $200 million redevelopment of Westfield Geelong
• $100 million TAC headquarters in Geelong
• $60 million Edgewater development
• $26.1 million Barwon Health Emergency Department upgrade
• $20 million Advanced Centre for Automotive Research and Testing at Ford
• $17 million Day Surgery Specialist Centre opposite St John of God Hospital
• $12.5 million Pakington Strand development
• $8 million Bellarine Aquatic & Sports Centre in Ocean Grove
Projects underway include:
• $1.25 million extension of the Ring Road – connection to Anglesea.
• $76 million bio-solids drying facility at Black Rock.
• $68 million Rippleside Quay Development
• $60 million Anglesea Borefield
• $40 million Promenade Tower Apartments
• $30 million Leisurelink gym and aquatic centre in Waurn Ponds
• $30 million Geelong Private Medical Centre
• $28 million redevelopment of Skilled Stadium’s Ross Drew Stand
• $17 million expansion of Chemring’s Lara facility
Projects awaiting commencement:
• $330 million Stockland residential development in Point Lonsdale
• $230 million green engine initiative at Ford
• $137.9 million Melbourne Geelong Water Interconnection
• $90 million Northern Water Plant
• $25 million six-storey office tower in Gheringhap Street
• $20 million redevelopment of Western Heights Secondary College
• $15 million redevelopment of Gordon Institute of TAFE’s East Geelong campus
City of Greater Geelong Mayor Cr John Mitchell said these figures showed Geelong was bucking the trend of economic slowdown.
“There’s been a lot of investment in Geelong over the past few years and we’re working to sustain this high level of interest in our region,” he said.
“We have a strong and robust economy and these wide-ranging developments will further strengthen our economy and our position as Victoria’s largest regional city.”
Cr Mitchell said Geelong had a clear willingness to attract and work with people interested in investing in our City.
“Our message is clear: Geelong is open for business. We’ve got the location, the lifestyle and the workforce, and there are many major growth and development opportunities ready to be capitalised on.”
Visit www.geelongaustralia.com.au to see the full list of recently completed, underway and upcoming developments in the Geelong region. Click on the ‘City Scope’ link under Features.
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