You can’t help but notice if you happen to be in the Geelong CBD the many large construction projects currently taking place or recently completed.
In recent years we have seen the re-location of WorkSafe Victoria, the TAC and the NDIS to Geelong. GMHBA is currently building their new headquarters in Moorabool Street at a cost of $86 million (Quintessential’s concept drawing above) which is forecast to create 600 jobs. The Geelong Performing Arts Centre has recently undergone a major refurbishment to the tune of $38.5m, as has Barwon Water at $29m. When you consider the pending new council headquarters at approximately $200m and the new $150m complex in Ryrie Street to house amongst others the Intercontinental Hotel Group, it’s no wonder that building approvals in the City of Greater Geelong number in the top 5 in the state.
This is a welcome injection of capital expenditure into the centre of town and illustrates a strong confidence in a thriving Geelong economy. Apart from the actual construction jobs, the presence of some of the country’s largest commercial and government organisations can’t help but have positive flow on effects for the Geelong economy – increased employment opportunities, support for Geelong business and a strong commitment to investment and innovation.
These are surely exciting times for Geelong.
Until next week.
Nick Lord
Director