Latrobe Valley Economic Development
Latrobe Valley Authority
The Latrobe Valley’s future is critical to our state and the Victorian Government is standing with the community as it transitions to deliver a stronger and brighter future.
The Victorian Government is establishing the Latrobe Valley Authority, a partnership of community, industry, and government to support community and build a stronger Latrobe Valley. The Authority will:
- Support families;
- help affected workers to access services they need, including skills, training and employment
- help businesses diversify and access new markets
- Create the Latrobe Valley Economic Growth Zone to make it easier ,faster and less costly to do business and help attract new major employers
- Invest in the Latrobe Valley's most urgent infrastructure priorities and community development initiatives, such as transport upgrades to economic and community facilities.
Latrobe Valley Economic Development Program
As part of its $266 million support package for the Latrobe Valley, the Latrobe Valley Economic Development Program is a $40 million initiative that responds to the needs of the region and supports its economic diversification, growth and resilience.
The program has a strong emphasis on supporting growth of existing and future industries, leveraging the Valley's competitive strengths and focusing on potential high growth sectors such as food and fibre, defence or health services.
Through this program, the Government is delivering a number of initiatives to support businesses and workers affected by the closure of the Hazelwood mine and power station.
Supply chain business support
The Hazelwood Supply Chain Transition Program (HSCTP) will provide intensive tailored support to businesses in the Hazelwood supply chain to guide them through the transition period as Hazelwood power station and mine closes.The HSCTP is focused on retaining industry capability and jobs in the Latrobe Valley that might otherwise be lost due to the Hazelwood closure. It will provide Latrobe Valley based Hazelwood supply chain companies with the support they need to plan for their future, including access to new sectors and markets.
This will be achieved by:
- Providing intensive support to equip supply chain companies with options and strategies for transition
- Offering assistance to implement key recommendations identified in the plan.
Support for supply chain businesses affected by the closure and their workers will also be available under the Business in Transition Support (BiTS) program. BiTS works with businesses to support their workers following retrenchment.
Small Business Victoria will also be offering a range of services to help affected businesses move forward, including business mentoring.
Latrobe Valley Economic Facilitation Fund
The $10 million Latrobe Valley Economic Facilitation Fund (LVEFF) is a grant program for businesses in the Latrobe Valley. The fund supports business growth and new job creation, consistent with priorities set out in local economic development plans including the Gippsland Strategic Plan, local government economic development strategies and the Committee for Gippsland 'Our Region Our Future' report.
Trade and Investment Support
We are providing additional trade and investment specialists for the Latrobe Valley to focus on developing, managing and realising investment opportunities for the Latrobe Valley.
Workers affected by the Hazelwood closure will be able to access subsidised vocational education and training to help them find new jobs. These services will be accessed through the Latrobe Valley Authority and other training providers.