Investment $297 million
Allocated in sectors where Victoria has a strategic advantage. Strategically targeted programs will help businesses grow and create jobs of the future.
What will the money be used for?
This investment includes:
The Future Industries Fund
$111 million will be invested to help Victoria take advantage of some of the fastest growing industries in the world. The Future Industries Fund will be bolstered to fund strategic projects aligned with the Future Industries Sector Strategies, and enhance the competitive advantage for Victoria's six priority growth sectors:
- Medical technologies and pharmaceuticals
- New energy technology
- Food and fibre
- Transport, defence, and construction technologies
- International education
- Professional services
Creative Industries Strategy
The Budget provides $33.8 million to deliver the Government's first Creative Industries Strategy targeted at generating productivity, income, jobs and export earnings.
Number one destination for international students
$31.9 million will be provided to further strengthen Victoria's position as the number one destination for international students.