Background
The Latrobe City Council (Council) Transition Reserve (the Reserve) was established in the annual Council Budget to further support the organisation’s long term financial sustainability and transition programs. This policy provides a detailed framework as to how the Reserve will be utilized to encourage diversification of the Latrobe City economy and the delivery of additional sustainable long term employment, through facilitating the development of enabling economic infrastructure.
The Reserve is evidence of Council’s commitment to increasing employment opportunities throughout the municipality.
This Policy relates to the following Strategic Direction and Key Objective from the Council Plan 2025-2029.
Our Economy – Investment, Jobs, Growth
We are committed to working with our community and key stakeholders to grow our local economy to provide a wide range of job opportunities, economic diversification, and attract investment.
Key Objective 1 - Investment
Actively pursue investment in emerging industries and industries that diversify our local economy to create jobs and increase economic growth.
To support the Strategic Direction and Key Objective in the Council Plan, Councillors have identified a Focus Area Aspiration for a $25m investment in Infrastructure Vision. The Reserve could support the delivery of projects that align to this aspiration including housing strategy, small town structure plans, economic development strategy, industrial and employment strategy.
Objectives
To provide a detailed framework for the expenditure of the Reserve in order to ensure it is allocated transparently, responsibly and in accordance with economic priorities for Latrobe City, with a focus on delivering optimal economic and community benefit and supporting sustainable local development.
Scope
This Policy applies to all Councillors, Council employees and all contractors engaged by Council. It is specifically targeted at enabling economic infrastructure to be established by Council that will support development of new industries, expansion of existing industries, enabling population growth and generation of employment opportunities in Latrobe City.
View the full policy below: