Why this is important to Wisconsin businesses: Key infrastructure projects are likely to proceed as planned, creating procurement and export opportunities for Wisconsin companies.
Voters in the state of Victoria elected the Labor government, led by Premier Daniel Andrews, to a record-setting third term in November.
The government, which characterizes itself as progressive, is expected to proceed with major road and rail infrastructure projects, as well as improvements to education and health facilities. Andrews’ administration also has pledged to recruit, hire, and train more health care and education workers.
Victoria is the second-smallest state in Australia, with 87,900 square miles—nearly the size of the UK—but it has the second-largest population, with 6.6 million people, and Australia’s second-largest city, Melbourne. Victoria provides about 23% of Australia’s gross domestic product; state GDP is projected to grow more than 3% in 2022-23. The state also imports about 27% of Australia’s intermediate goods and services.
With projections for the state’s population to reach 10 million by 2051, Victoria is working on its Big Build project, planning to spend $100 billion on 165 major road and rail projects, including a second underground railway for Melbourne.
For Wisconsin companies, the infrastructure investment in Victoria could offer a chance to export products, equipment, technology, and services—either through connections with a local partner or directly to government agencies or businesses.
Exporters can register on the Buying for Victoria procurement and supplier portal, where they can view procurement opportunities and bid for state government contracts. Wisconsin companies can also contact WEDC for an initial conversation about the opportunities for their products in Australia.