New data from the Australian Bureau of Statistics (ABS) has found Victoria’s engineering construction activity has increased almost 50 per cent in the past 12 months, with a total value of $14.7 billion in the year to the March Quarter.
This is the highest value on record for the state and is the highest in the nation.
In comparison, the new figures from the ABS show national activity has increased by 13.7 per cent and 2.8 per cent for the quarter respectively.
Construction of roads, highways and subdivisions has increased by 33.6 per cent in the March quarter and 60.2 per cent over the year.
Government infrastructure investment is forecast to average $10.1 billion per year over the next four years, with $78.9 billion of state capital projects to commence or be underway in the coming year.
The state government’s infrastructure investment is expected to support the creation of more than 75,000 jobs.
Victorian Treasurer Tim Pallas said more than 347,000 jobs have been created since the 2014.
“That’s almost a 12 per cent increase – more than anywhere else in Australia during the same time,” Mr Pallas said.
“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.”
Relates stories:
- VIC engineering construction growth strongest in AU – new ABS stats
- Contracting firms form global council to drive innovation and digitisation in engineering and construction
- Construction and Engineering among top 5 highest paying industries – SEEK