Central Geelong is calling for a special approach.
We know the heart of our vibrant region is full of potential, but it needs fresh thinking.
That's why Council is championing a Special Economic Zone (SEZ) - an innovative pilot program for regional Australia - to help fast-track the revitalisation of our city centre and meet the demand of our growing community.
It's worked in Europe and Asia, and we're confident it could be a success here.
The proposed five-year pilot would unlock housing and business development, and help restore confidence, interest and investment in central Geelong and the greater region by extension.
We now need the Australian and Victorian governments to get on board, by committing to tax breaks, stamp duty concessions, investment support and planning reform.
Mayor Stretch Kontelj OAM
We've led through manufacturing, education, health, technology and clean energy, and now we have an opportunity to lead Australia once again.
A Special Economic Zone could go a long way towards driving the private investment and economic development we desperately need.
We have vacant and under-utilised land in central Geelong that's ready to go, and we need to incentivise development.
I'd like to work with the Australian and Victorian governments to develop a solution for Geelong that could be replicated in other key growth cities.
If we can bring all levels of government together, we have a real opportunity to create a national model for housing delivery, CBD revitalisation and regional economic growth.
Central Geelong already has at least 16 approved residential and mixed-use developments that remain stalled because current market conditions make them financially unviable.
At the same time, Greater Geelong has been set Victoria's largest housing target of any municipality - metropolitan or regional - with 128,600 new homes required by 2051. Around 60 per cent of those homes are expected to be delivered through infill development.
Our SEZ proposal requires federal and state governments to:
- make significant land tax and stamp duty concessions
- reduce government fees and charges
- back financial schemes for apartment pre-sales
- fast-track planning approvals
- fund infrastructure.
Economic Development portfolio chair Councillor Trent Sullivan
Many of these measures wouldn't cost governments anything in the short term because they would unlock projects that simply aren't proceeding today.
Over time, increased development and economic activity would generate greater revenue while creating more homes and jobs.
The proposal draws on decades of international success. Special Economic Zones have transformed cities and regional economies around the world, including the Shannon region in Ireland and Shenzhen in China, by attracting investment, creating jobs and accelerating urban renewal.
More recently, governments have used SEZs to stimulate housing delivery alongside economic growth.
Transforming central Geelong is one of Council's hallmark priority projects for 2026, and the SEZ is part of that advocacy.
Find all of our Priority Projects at geelongcity.vic.gov.au/advocacy
