The Victorian development industry has welcomed the announcement of major rail infrastructure for the south eastern corridor of Melbourne and the target of 50,000 new residential land allotments by the Victorian Government.

Tony De Domenico, Executive Director of the Urban Development Institute of Australia (UDIA) Victoria said, certainty in government policy and strategy is the key to building Victorian jobs and confidence in the Victorian economy.

"In Victoria the development industry directly employs around 310,000 full time employees, contributes around 12 per cent of the state's gross domestic product and contributes $4.6 billion in taxes to all tiers of government."

Mr. De Domenico said, "Currently the industry is in the recovery mode and it will take some time to return to its peak, however, the current activity is providing a solid foundation of economic activity with thousands of land allotments under production and thousands of new homes being built."

"The announcement and commitment by the Victorian Government to major transport infrastructure projects, planned residential land releases and zoning of master plans for employment precincts to create employment close to residential developments provides a firm basis for the development industry to invest billions of dollars in Victoria over the next decade in Greenfield projects.

"Any industry investing such amounts of money needs to be assured they are working in tandem with long term government strategies and commitments to maximise the outcome for future residents and the State of Victoria."

Mr. De Domenico repeated his call for people to start taking a more positive public attitude towards the Victorian economy saying the continual talking down of the Victorian economy damages the chances of people seeking employment as it damages investor confidence.

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