Thursday, 31 July 2025

Ministers statements: economy

Danny PEARSON (Essendon – Minister for Economic Growth and Jobs, Minister for Finance) (14:24): I rise to update the house on the work underway to grow Victoria’s future economy. Our great state is home to more than 3500 startups worth $132 billion. These startups are taking big risks every day, building new products, creating new industries and changing the way we work and live. Last week at the LaunchVic Victorian Startup Gala I announced new funding of $3.75 million to support every stage of our startup ecosystem, from venture capital funds and university-led programs to community events.

Victoria is also emerging as a prominent data centre hub in the region, with leading companies investing. I have had the absolute pleasure of visiting two NEXTDC data centres in recent months alongside my good friends the member for Sunbury, the member for Albert Park and of course our Premier, and we saw firsthand the transformative work Craig Scroggie is doing there. He has an incredible vision to build this infrastructure for a modern competitive economy. Data centres are to the 21st century what rail lines were to the 19th century – critical infrastructure that will have a profound impact on our future as a nation.

It is important we are also growing the state’s tech talent pool, creating jobs, attracting investment and stimulating business growth. This is the third industrial revolution, and we want to ensure that the benefits are shared with women and diverse candidates, because when they win we all win. That is why last week, at the incredible Australian Information Industry Association awards, I announced the expansion of the summer of cyber program, which will help more women and gender-diverse tertiary students and recent graduates gain job-ready skills while supporting Victorian businesses to improve their cyber capabilities.

Victoria has every good reason to be confident about our economic future. We have huge opportunities for us on the horizon, and on this side of the house we are relentlessly pursuing those opportunities each and every day to secure Victoria’s future.