Victoria Treasurer Tim Pallas
Victoria’s Big Build Pipeline Boosting Construction
Victor P Taffa
Victoria is leading the nation when it comes to building major infrastructure, with new data showing the value of construction work grew by more than 15 % in 2018 the highest growth rate in Australia.
Australian Bureau of Statistics data today confirmed the value of construction work done in Victoria has grown to $54.5 Billion in 2018 more than a quarter of the national total.
“Victorian economy continues to set the national pace and our major infrastructure pipeline for the construction industry continues to play a major role in our success.” Treasurer Tim Pallas said.
“We’ve more than doubled infrastructure investment to an average of $10.6 Billion over the 4 years to 2021-22 compared to the long run average.”
Victoria’s growth is a sharp contrast to the value of construction work done throughout Australia, which decreased by 2.6 % last year.
Victoria also topped quarterly growth for construction work done in December ahead of all the other states and above the national average.
Value of engineering construction in Victoria grew by a massive 30.5 % in 2018, the highest growth rate in the nation, totalling more than $17 Billion.
Meanwhile, the value of residential and non-residential building work done in Victoria increased 9.1 % to $37.3 Billion in 2018.
Victoria’s construction industry strength continues to drive more jobs across the state.
Since the Andrews Government was first elected, more than 440,000 people have found a job in Victoria. 71 % of these full-time roles the highest growth rate in the nation.