New investment paths for Great South Coast

Published on 18 September 2020

Attracting major investments could help springboard south west Victoria into prosperity beyond the COVID-19 recession. The Great South Coast Group’s Economic Futures project aims to link investors with smart, sustainable and large-scale opportunities that will benefit local communities.

Corangamite Shire Chief Executive Officer Andrew Mason is Chair of the Great South Coast Economic Futures project. He said a $100,000 Regional Development Victoria grant and $50,000 from the Regional Partnership would help turn recommendations of the Great South Coast Economic Futures Report into action.

Great South Coast Economic Futures was a joint project undertaken by Deakin University’s Centre for Regional and Rural Futures and Juturna P/L, an experienced economic reform and investment advisory specialised in transport, water and regions. The same collaboration delivered the highly regarded Geelong Economic Futures in 2017.

Chair of the Great South Coast Group and Mayor of Warrnambool City Council, Cr Tony Herbert said the report was a strategic document that outlines seven high value economic investment and development pathways for the region.

“The report identifies a number of smart investment paths that can exploit some of the strengths this region has to offer: good rainfall, fertile soils, research and education infrastructure, premium tourism destinations, high capacity energy infrastructure and access to ports,” Cr Herbert said.

Those key projects include opportunities in:

“We have some strong sectors, particularly agriculture, energy and forestry, but with Australia in its first recession for decades, there’s never been a more important time to diversify and ensure long-term security,” Cr Herbert said.

Mr Mason said the funding would go towards developing business cases for the key projects in the report.

“This latest funding will allow the Great South Coast Group and our partners to pursue commercial pilot projects that can be scaled up and are compatible with our communities. Attracting major investments will have flow on benefits in economic growth, jobs, and reversing the trend of declining population.”

Chair of Great South Coast Regional Partnership and Purnim-based dairy farmer Lisa Dwyer said the State Government was providing financial support to the effort, which was a forward-thinking way of making investments happen.

“Everybody across the country is hoping for significant new economic investments, now more than ever,” she said.

“We spent our time listening to investors and nailing down what things would support major commercial successes in our own backyard.

“Armed with a better understanding of what some of the barriers to investment have been in the past, we’re now inviting major investors in those specific areas to come and take a look.

“So, while governments can and do support the economic development of our region, it's our community that leads."

The project involves Corangamite, Moyne, Southern Grampians and Glenelg Shires, Warrnambool City, Wanton Water and Deakin. It is supported by Regional Development Victoria and Regional Development Australia.