A host of new development funds have been established in Victoria as Labor aims to deliver on its pledge to create 100,000 jobs within two years of being in office.
The 2015-16 state budget creates a $500 million Regional Jobs and Infrastructure Fund similar to a program in place under the former coalition government.
It will provide funding for improved infrastructure to support regional industry, and also funding for new attractions to grow jobs and visitor numbers in regional Victoria.
As promised in the lead-up to the election, Labor has also created a $200 million Future Industries Fund which will offer grants of up to $1 million to support business and projects across high-growth prospect sectors including food and fibre processing and renewable energy.
Another election promise, the Premier's Jobs and Investment Panel ($508 million), will bring together leading business figures and unions to work together on creating high-skills jobs, though there is scant detail on how the money will be allocated.
"Over the last four years, too many young people have packed up and left home in search of jobs," Premier Daniel Andrews said.
"That's why we're investing in schools, skills and local industries, to get regional cities and towns back to work."
The budget also contains $78 million to recruit and train an extra 450 firefighters.
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