Victoria’s building boom is already paying dividends, the value of infrastructure projects in the state has grown by $18 billion or 20.5% over the past year.
The Andrews Labor Government is delivering a pipeline of infrastructure investments, including removing level crossings and building the Metro Tunnel and the West Gate Tunnel.
These are among the 100 projects currently underway at the end of the March quarter, with DAE estimating all of the projects worth at a total $42.7 billion.
The latest quarterly Investment Monitor report from Deloitte Access Economics shows Victoria has the highest growth of the mainland states in this year to March.
Victoria’s boom comes despite the value of national investment projects declining by $62.4 billion over the last year.
Treasurer Tim Pallas says, “Our unprecedented pipeline of major infrastructure projects means a booming construction industry and tens of thousands of jobs – all working on building a better Victoria for us all.”
The total value of projects planned and underway in Victoria has now reached $105.6 billion, up by $2.1 billion in the March quarter.
The Labor Government has more than doubled infrastructure investment to an average of $10.6 billion annually over the four years to 2021-22 compared to the long-run average.
There is also $37.9 billion worth of private sector projects currrently planned or underway across Victoria, according to DAE’s report.
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