A total of $2.6 billion has been paid out to 134,000 businesses in the three rounds of the Business Support Fund.
A further $262 million has been provided to businesses through the Business Resilience Package.
Key Jobs Plan initiatives are also well underway, creating local jobs and setting Victoria's economy up for the future.
Breakthrough Victoria Fund
The $2 billion Breakthrough Victoria Fund was established to ensure Victoria remains at the forefront of research and innovation. An interim board has been appointed, and will soon finalise an investment plan.
Higher Education State Investment Fund
The $350 million Higher Education State Investment Fund is working with universities to identify the projects that will set our state up for the future – including the:
- University of Melbourne and Illumina Genomics Hub to bring together the best of genomic expertise and technology in Australia;
- Digital and Bio Innovation Hubs at La Trobe University’s Bundoora campus, which will support students, start-ups and Victorian businesses to develop innovative new products like anti-viral medication and water treatment solutions; and
- Swinburne University of Technology Hydrogen Hub in Melbourne’s south-east. This facility will create jobs and help to explore new hydrogen technologies including clean energy vehicles and hydrogen storage containers.
We have established Apprenticeships Victoria to connect the future pipeline of apprentices with our Big Build projects and support 1,500 opportunities each year to work on some of our biggest projects, including the new Footscray Hospital and North East Link.
Jobs for Victoria initiative
The $619 million Jobs for Victoria initiative is delivering new services for people looking for work, including Jobs Victoria Advocates, scaling up of employment services and the Jobs Victoria Fund, which provides wage subsidies to businesses to employ jobseekers.
At least 60% of subsidies paid from the Fund will be for women, reflecting the significant impact the pandemic has had on their employment opportunities.
New Jobs Tax Credit
We established the New Jobs Tax Credit, which supports small and medium businesses to rehire staff, restore hours and create new jobs. Under the initiative, the more eligible businesses increase employment, the less tax they'll pay.
This year's Budget continues the Credit, giving employers and their staff ongoing certainty.
Jobs for Victoria is helping Victorians to find jobs while supporting Victorian businesses
Coffee shop hires three employees with wage subsidy
Chris Choong runs the Jamaica Blue coffee shop in Westfield Fountain Gate. He says the Jobs Victoria Fund wage subsidy came at the right time. He can now put on new staff and grow his business, while supporting new workers who may not have had the same chance elsewhere.
Chris says his coffee shop is a place where all are welcome. He has hired three staff members, two from migrant backgrounds and the other living with disability. Two of Chris’ current employees, Mia and Chloe, have autism, and Chris is supporting them to train as baristas at the cafe.
‘They come in when it’s not busy and practise making coffee and I’m the one to try the coffee.’
The team is also culturally diverse, with ‘some staff from refugee backgrounds, from Afghanistan and Iran. We are all from multiple nationalities,’ says Chris.
When hiring new staff, Chris chooses carefully but with an open mind and an outlook that his staff can learn and grow on the job. ‘It is not easy to find good people,’ he says.
‘When I look [for new staff], skills are not number one. What I look at is their attitude and their loyalty.’ He found those assets in his new team members.
‘If anyone is willing to learn … there is always an opportunity...'
Reviewed 17 May 2021