By JOHN VAN KLAVEREN
A $100 MILLION automotive rescue fund targeting Geelong is running late, proponents have conceded.
Prime Minister Tony Abbott announced the scheme to help regions overcome job losses in December. Corangamite MP Sarah Henderson and Geelong businessman Frank Costa were included on a panel advising the fund, meeting for the first time in January.
Mr Costa was unable to explain the delay.
“I don’t know why it is taking a bit longer than anticipated,” he said.
“The Government faces a challenge because of the huge demand on funds from many sources, so they’ve got to be careful about what they do and how they do it.
“I can say the will of the Government was positive about Geelong and Adelaide and supporting companies losing employees, both large and small,” Mr Costa said.
“The Government is keen to make sure the money goes to the greatest area of need where there are genuine cases of people with things like mortgage problems and no suitable replacement jobs.”
The Independent reported in February that Prime Minister Tony Abbott had flagged “some quite exciting developments” for Geelong.
“Early in March we’ll have some announcements to make and then in the build up to the budget there’ll be further announcements to make,” he said.
“There are some quite exciting developments that people are thinking about in Geelong, which we can include as part of our announcements in coming weeks.”
Earlier this year Ms Henderson raised “an imminent need” to use the $100 million fund for re-skilling and business investment in the region.
“In my view, our government needs to consider extending or bringing forward our growth fund … as a way of providing urgent regional assistance.” Canberra and Victoria have committed $60 million and $12 million to the fund respectively but Ms Henderson rejected reports this week the states and car makers were not contributing.
Ms Henderson said fund details would be announced in “coming weeks”.
Geelong “featured prominently” in a review of funding applications, she said.
“Significantly for Geelong and the Corangamite electorate, the panel recognises that government investment in key regional infrastructure projects has the potential to assist business communities transition to new sectors of growth.”
