Development Industry Welcomes Rail and Land Announcements
Certainty the Key to Building Victoria Jobs and confidence
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Tony
De Domenico Executive Director UDIA Victoria |
The
Victorian development industry has welcomed the announcement of major rail infrastructure
for the south eastern corridor of Melbourne and the target of 50,000 new residential
land allotments by the Victorian Government.
Tony De Domenico,
Executive Director of the Urban Development Institute of Australia (UDIA) Victoria
said, certainty in government policy and strategy is the
key to building Victorian jobs and confidence in the Victorian economy.
"In Victoria
the development industry directly employs around 310,000 full time employees,
contributes around 12 per cent of the state's gross domestic product and contributes
$4.6 billion in taxes to all tiers of government."
Mr. De Domenico said,
"Currently the industry is in the recovery mode and it will take some time
to return to its peak, however, the current activity is providing a solid foundation
of economic activity with thousands of land allotments under production and thousands
of new homes being built."
"The
announcement and commitment by the Victorian Government to major transport infrastructure
projects, planned residential land releases and zoning of master plans for employment
precincts to create employment close to residential developments provides a firm
basis for the development industry to invest billions of dollars in Victoria over
the next decade in Greenfield projects.
"Any
industry investing such amounts of money needs to be assured they are working
in tandem with long term government strategies and commitments to maximise the
outcome for future residents and the State of Victoria."
Mr. De Domenico repeated
his call for people to start taking a more positive public attitude towards the
Victorian economy saying the continual talking down of the Victorian economy damages
the chances of people seeking employment as it damages investor confidence.
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