BENDIGO Business Council executive officer Patrick Falconer says the opening of Kennington Village Shopping Centre is a win for the consumer.
Mr Falconer said the centre, which includes a Woolworths supermarket, will lift the standard of products and services in the area.
"I think it will certainly boost the area," he said.
"It will mean that everyone will have to be conscious of the increased competition which can be good for the consumer - business has to continue to succeed."
Brands ALDI and IGA already exist in the area.
Mr Falconer said the Strathdale, Kennington area was a "growing corridor" and the centre would meet the needs of the community.
"It's something that this area of Bendigo really needed," he said.
The new store will employ 130 staff members, including many young people.
The centre was opened to the public on Wednesday.
Celebrations will continue until the end of the week and include entertainment, giveaways and shop specials.