Government delivers record funding boost to regional and rural Victoria

Sat 14 May 2011

The Victorian Government has delivered a record funding boost to Regional Development Victoria (RDV) for a wide-range of programs and initiatives to support jobs and growth in regional and rural Victoria.

Deputy Premier and Minister for Regional and Rural Development Peter Ryan said the massive funding increase, included in the 2011-2012 State Budget, was primarily the result of new initiatives including the first stage of the Coalition's flagship $1 billion Regional Growth Fund.

"The record funding to RDV reflects the Coalition Government's commitment to building a stronger and more vibrant future for people living in regional and rural areas," Mr Ryan said.

"The Coalition Government has also included substantial funding to help communities recover from the severe flooding across Victoria in late 2010 and early this year, including provision for targeted assistance to encourage business investment in flood affected areas."

Mr Ryan said the majority of programs under the previous government's 2010 Ready for Tomorrow statement continued to receive support - with the exception of the Regional Infrastructure Development Fund (RIDF).

"The RIDF has been discontinued and replaced by the much larger and more flexible Regional Growth Fund, which will deliver far greater outcomes for the people of regional and rural Victoria," Mr Ryan said.

In addition to specific Regional Development Victoria programs Mr Ryan said the State Government had also allocated $20 million to a dedicated Regional Aviation Fund and $160 million over four years for rural roads and bridges.

Overall, the Government has allocated $970 million to specific regional development programs.

"The record level of funding directly corresponds to the Government's commitment to working with communities to build a strong and vibrant future for regional Victoria," Mr Ryan said.

Details and guidelines relating to funding under the Regional Growth Fund will be published prior to its implementation on July 1.