$29.5 million has been invested into Geelong, thanks to a grant funded by the Australian and Victorian Government and supported by Ford Australia and Alcoa of Australia.
Australian Minister for Industry Ian Macfarlane, Victorian Premier Denis Napthine, Victorian Minister for Manufacturing David Hodgett, Member for Corangamite Sarah Henderson, Bob Graziano, President and CEO, Ford Australia and Alan Cransberg, Chairman and Managing Director, Alcoa of Australia have today announced a grant of $3.4 million will be given to Cotton On Clothing Pty Ltd.
The $3.4 million grant will allow Cotton On to embark on an $8.7 million expansion project, which will see its North Geelong head office expanded and redeveloped.
300 jobs are expected to be created with the expansion, allowing for more specialist retail and visual merchandising staff.
“This expansion is good news for Geelong and Geelong residents. The $8.7 million project will enable Cotton On to expand their business operations to support the rapid global expansion of their well-known brands like Cotton On Adults, Supre and Typo,” Mr Macfarlane said.
“The Australian Government is working with Victoria, Ford Australia and Alcoa to help entrepreneurial Geelong region businesses like Cotton On carry out new projects that create jobs and opportunities as the local economy transitions to new and diversified business.
The grant to Cotton On is to be one of a number of projects aiming to provide jobs in the region, according to Mr Hodgett.
“This investment in the company’s expanded facility is supported by the Geelong Region Innovation and Investment Fund, which will assist local businesses as they seek new opportunities and build on the state’s strengths,” Mr Hodgett said.