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THE $370 million Geelong City Deal is set to play a significant role in the region’s economic recovery from the coronavirus.

Victorian Senator Sarah Henderson yesterday announced a key development in the deal that will deliver a convention centre to Geelong and a raft of tourism infrastructure projects along the Great Ocean Road.

“I am delighted to confirm that the funding agreement for the $370 million Geelong City Deal has now been signed by all parties,” Senator Henderson said.

The City Deal has moved slowly since Prime Minister Scott Morrison and Premier Dan Andrews signed off on it more than a year ago, ending a lengthy stand-off between the two tiers of governments over specific funding commitments.

But Geelong civic leaders have in the past week expressed confidence that the 10year partnership involving all three levels of governments would go ahead despite the huge amounts being spent in response to the COVID-19 pandemic.

Senator Henderson said the Morrison Government would deliver $183.8 million to the Geelong City Deal, giving a significant boost to the regional economy.

“The coronavirus pandemic means it’s more important than ever to plan for our region’s economic recovery,”

Senator Henderson said.

Geelong MP Christine Couzens also welcomed the funding agreement.

“We said we were going to revitalise central Geelong and the city waterfront, and that’s exactly what we’re doing,” Ms Couzens said.

“The signing of the funding agreement now means the delivery of these projects can begin to get under way.”

City Deal projects include construction of a $170 million convention and exhibition centre on Deakin University’s Geelong Waterfront campus carpark, as well as the Revitalising Central Geelong Action Plan, tourism infrastructure projects along the Great Ocean Road and Shipwreck Coast and redevelopment of the Queenscliff Ferry Terminal.

Prior to the announcement of the funding agreement, Geelong Mayor Stephanie Asher said the City Deal would play a key role in helping to recover from the coronavirus.

“Given the devastating impact of the coronavirus on our tourism industry and our economy as a whole, government investment in our region will be more important than ever once we move into recovery mode,” Cr Asher said.

“The infrastructure and projects delivered through the Geelong City Deal will be vital to rebuilding the tourism industry, generating local employment and encouraging people to visit the Geelong region.”