The Victorian Government has just released new data which illustrates that the state’s engineering construction activity is leading the nation, growing by 50 per cent in the past 12 months. The total value of Victoria’s engineering construction activity was $14.7 billion in the year to the March quarter –the highest value on record for the state.
Victoria’s engineering construction activity has soared approximately 48.7 per cent in the past year, and 19.2 per cent across the March quarter, the highest in Australia. Victoria’s boost in activity was primarily driven by the construction of bridges, railways and harbours, which increased by 69.3 per cent in the March Quarter, and approximately 165.1 per cent over the course of the year. Construction of Victorian roads, highways and subdivisions also saw a considerable increase, reaching a 33.6 per cent increase in the March quarter and 60.2 per cent over the year.
Treasurer Tim Pallas said more than 347,000 jobs have been created since the Andrews Labor Government was elected.
“That’s almost a 12 per cent increase – more than anywhere else in Australia during the same time,” he said.
“Every time we build a school, dig a tunnel or open a hospital – it means jobs for Victorians. We’ll keep building to keep this jobs creation momentum going.”
“Since 2014, Victoria has contributed more than a third of the nation’s total employment growth. More than 45,000 of these jobs have been created in regional Victoria,” the Treasurer said.
In addition to this, the Victorian Government’s infrastructure investment is forecast to average $10.1 billion per year over the next four years, with $78.9 billion of state capital projects set to commence this year, or already underway. This investment is predicted to create over 75,000 jobs.
The recently released figures from the Australian Bureau of Statistics also show national construction activity has increased by just 13.7 per cent and 2.8 per cent in the same quarter, respectively.
More information can be found here.