The strength of our region’s economy is reflected in the growth of council’s annual Geelong Small Business Festival.
With 70-plus events throughout August – up from 56 last year – more people are expected to take part in the diverse range of activities.
For the first time in the festival’s 13-year history, council has teamed with Geelong Chamber of Commerce to deliver the program.
The festival has always been about providing the encouragement and support to business operators and to those entrepreneurs looking to take the leap.
It enables people to learn new skills, be inspired and to make valuable local connections.
With the chamber’s expertise, we can take the festival to the next level.
I encourage people to check out the program at gsbf.com.au
Small businesses play a critical role in Geelong’s prosperity, contributing some $9 billion to the local economy.
More than 2170 new businesses were created during 2022, which saw Geelong enjoy the fastest jobs growth of all Australian regional cities.
Our economy is thriving thanks to a wide range of industries.
The biggest growth is being seen in areas such as health care and social assistance, construction, wholesale and retail trade, accommodation, education, and professional services.
There have also been some exciting developments in the manufacturing space.
A string of new defence-related contracts is supporting and creating a large number of jobs, concentrated in our northern suburbs.
Marand Precision Engineering – which is based in the old Ford Factory precinct – and Viva Energy are working with the Australian Defence Force.
In Avalon, at a soon-to-be-complete $170 million facility, there is a generational opportunity under way.
South Korean firm Hanwha last week won the massive Land 400 Phase 3 contract, to build next-generation infantry fighting vehicles at their Avalon base.
Valued at up to $7 billion, the project will create 600 direct jobs and support thousands of others.
Hanwha was already building its Avalon facility after securing a $1 billion defence contract to build self-propelled Howitzers and ammunition resupply vehicles.
Following this first deal, the City of Greater Geelong entered into a Memorandum of Understanding (MoU) with South Korea’s Changwon City.
This MoU will see both regions collaborate on trade, education and culture, and promote mutual investment and employment opportunities.
Following Hanwha’s winning Land 400 bid, this relationship will only grow in importance.
Even before last week’s great news, other Korean companies had expressed interest in establishing in the Geelong region.
A business mission to South Korea, initiated by the Geelong Manufacturing Council, was supported by the Department of Foreign Affairs and Trade to travel in May.
A strong Geelong contingent attend to discuss potential industry, trade, education, and research initiatives.
I had to reluctantly decline the invitation to join the trip, as I had existing commitments in Geelong.
But council is committed to investing time and energy into strengthening relationships with prospective partners – wherever they may be.
Attracting economic, cultural and social benefits from across the globe is vital to the ongoing prosperity of our community.
