FEDERAL STIMULUS PACKAGE ALREADY BENEFICIAL FOR GEELONG REGION

The Rudd government’s $42 billion financial stimulus package announced last February - the Nation Building Economic Stimulus Plan - is already benefiting the Geelong region’s economy and this is being demonstrated in contracts in the order of $30 million awarded to local companies in the Geelong region to date.

 

At the Keep Geelong Working public forum held in Geelong on 23 April, which was organised by local Federal MPs, Richard Marles and Darren Cheeseman, to inform local businesses about the package and which was also supported and promoted by the Chamber, we heard Senator Mark Arbib explain how the various parts of the package would be delivered and how local businesses and contractors will be able to quickly access them.

 

Senator Arbib, the Federal minister directly responsible for the package’s rollout, said that the major part of the package which will be most significant to Geelong businesses is its share of the infrastructure spending of nearly $30 billion across all regions in Australia in the next twenty-seven months.

 

Senator Arbib stressed that Prime Minister Rudd wants local businesses in regions to get their fair share of the work and he said that what is likely to guarantee this happening is the package’s sheer size!

 

The Senator believed that it would be impossible for big outside companies to take away a major part of the region’s allocation and he added that the success of the stimulus package lay in everyone’s hands.

 

Obviously, the proof in this statement is in the ability of local businesses to secure major contracts in the package and this is already on track.

 

Both Richard Marles and Darren Cheeseman announced that 89 primary schools in the two electorates of Corio and Corangamite will be eligible for major building projects as well as a number of secondary schools and private schools in both electorates.

 

Projects are being rolled out very quickly to deliver early benefits to builders, other contractors and suppliers and, to date, school projects worth $82.5 million under the National School Pride Program have been approved in the Geelong region. Other regional projects approved include $5 million on community infrastructure, $3 million on new road and rail projects, and 53 new houses under the Social Housing Program, plus the free insulation of many existing houses and a number of solar packages.

 

There will be a more funding for local projects as the stimulus package unwinds in the next stages.

 

Details of the projects being undertaken are on the Australian government’s website: www.economicstimulusplan.gov.au. This enables viewers to see which projects are funded, projects approved to date, how they are proceeding and their expenditure.

 

The website also advises businesses on how to get involved and to become registered for the various projects. As well, it invites contractors to submit their email details to receive regular updates.

 

The Chamber’s website has a direct link to the Stimulus Plan’s website.

 

Senator Arbib also said at the Geelong forum that there must be a lot of cooperation “at all levels of government in particular” to get the best out of these huge funds being made available. From the Chamber’s close observation to date, the very speedy rollout of projects so far attests to this level of cooperation.

 

One disappointing downside seen as a result of the quick rollout of projects in the package is the increase in some prices of materials as shortages are being predicted by suppliers.