Greater Geelong city has submitted an application for federal government funding for the Geelong Ring Road Employment Precinct to ensure long-term residential development.
“An extension of the Geelong Ring Road to the Bellarine Peninsula is vital for sustainable long-term residential and commercial development, and a much sought after aspiration for our region,” the application stated.
The request asks for $3.6 million from the Regional Development Australia Fund to service 327 hectares with infrastructure, roads and services that will attract new industries and maximise the area’s economic potential.
The project has the potential to create 10,000 new jobs once the 500 hectare site is fully developed. Two thirds of the land is undeveloped.
The site aims at assisting the Geelong, Western Victoria and Metropolitan Melbourne markets with current access to major transport hubs.