Regional Growth Fund Overview
By 2036, Regional Victoria’s population is projected to grow from 1.45 million to 1.86 million. For regional communities this additional 410,000 people presents significant opportunities and challenges for future planning.
Integral to the prosperity of the State will be how it makes the most of emerging markets at the same time as addressing pressures created by structural adjustments and social disadvantage.
Rapid technological change and emerging markets in the global economic environment offer Victoria’s regions significant opportunities to capitalise on their competitive strengths.
The Victorian Government has an important role to assist regional communities and businesses adapt to these changes as smoothly as possible. The Government’s new Regional Growth Fund (RGF) is designed to help facilitate this process.
The framework for the RGF is based on two long-term goals:
- developing a prosperous and thriving regional Victoria with more opportunities for regional Victorians; and
- improving the quality of life for regional Victorians.
The RGF will support regional cities and country communities to create new prosperity, more opportunities and a better quality of life. The RGF will:
- provide better infrastructure, facilities and services;
- strengthen the economic, social and environmental base of communities;
- create new jobs and improve career opportunities;
- support the planning and development of projects; and
- leverage increased investment.
The RGF seeks to strengthen the capacity of regional and rural Victoria to develop within the environment of growth and change. It aims to ensure a competitive environment in which regional businesses can operate successfully, and to strengthen the resilience of regional industry in the face of social and environmental change.
It incorporates a grass roots approach to identifying and developing community-led projects, while ensuring that wherever country Victorians live they have access to opportunities, quality infrastructure and services.
The Regional Growth Fund has two main components:
| Download the Booklet detailing the Regional Growth Fund and RGF programs (PDF 916.0 KB) (Word 99.7 KB) |
