Business incubator Workspace Australia will be made sustainable into the future and will nurture more businesses after relocating its Castlemaine operations with $3 million in funding from the state government, a director of the not-for profit organisation says.
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The funding, provided from Victoria's regional infrastructure and investment fast track funds, was announced by the Member for Bendigo West, Maree Edwards, on Monday.
"This is a game changer for us because it ensures our presence in Castlemaine and Mt Alexander remains ongoing," major projects director Jim Norris said.
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With the Castlemaine facility accommodating 68 of the 124 businesses the organisation has under its wing around the region, its relocation to long-term, rent-free premises ensured the viability of Workspace as an organisation into the future, Mr Norris said.
"Unless you have critical mass you can't support the staff that support the smaller centres.
"The bigger centres like Castlemaine and Eaglemont are providing us with that ability to service the smaller centres [including at Donolly, Gisborne and Bendigo]".
The grant will cover the fit-out of the former secondary school building at Etty St, Castlemaine to transform it into a business premises, and the conversion of the old science block to house "tailor-made" facilities for up to 10 small-scale and craft food sector businesses.
Mr Norris said Workspace hoped to increase the number of businesses it is nurturing at Castlemaine to around 80.
"Demand for business incubation at the moment is exceptionally high," he said. "People have come out of COVID and decided they're going to give it a shot."
According to the local member, the project would involve 40 jobs in the construction phase and would support up to 80 direct jobs and $7 million in economic output per year.
Ms Edwards said that with Workspace leaving the Castlemaine Health site on Halford Street after 18 years and the old nurses quarters there now set to be demolished, the site would be freed up for Dhalkaya Health to redevelop as a community health facility.
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