The Victorian 2017-18 State Budget was handed down by the Treasurer Tim Pallas on 2 May 2017. Some key highlights of this year’s budget were a $1.9B commitment to the prevention of domestic violence and $1.4B for regional rail upgrades.
See our summary of the new and update grant programs below:
• $10.2 million for Jobs Victoria to increase the impact of social enterprises, and to assist retrenched workers across Victoria to find new jobs.
• $15 million to expand the Future Industries Manufacturing Program, and the Local Industry Fund for Transition grant program, which supports businesses affected by the exit of the automotive industry, including those in Geelong.
• $106.1 million in creating new jobs and attracting new investment across Victoria. Initiatives that will create jobs across Victoria include:
– $90 million to attract additional private sector investment in priority sectors, and assist strategically significant manufacturers to manage their exposure to volatility in energy markets.
– $5.8 million to support emerging and existing social enterprises that are key to supporting better job outcomes for Victorians from disadvantaged backgrounds.
– $3.5 million to help small businesses succeed in the digital economy.
• Businesses in regional Victoria will receive a 25% discount on their payroll tax. The payroll tax rate will decrease to 3.65% for businesses with payrolls that consist of at least 85% regional employees.
• $20.1 million will go to the Sports Infrastructure Fund, which enables sporting clubs to access grants to upgrade existing or develop new facilities to improve community sport participation.
The Budget report can be found here.