The Victorian Government has announced a $10 million investment to accelerate the growth of the state’s forestry industry, supporting the establishment of new long-rotation timber plantations through the Victorian Plantation Support Program. Minister for Agriculture Ros Spence confirmed the funding will complement select rounds of the Commonwealth’s Support Plantation Establishment Program (SPEP), enabling eligible Victorian growers to access up to $3,000 per hectare for new plantations of 20 hectares or more. Individual projects may receive up to $200,000 in support.
“Demand for timber is expected to quadruple globally over the next 50 years, and we’re making sure Victoria has a secure supply,” Minister Spence said. “Victoria is already home to the nation’s largest plantation estate, and this funding will continue to strengthen our thriving and resilient timber industry.”
Under the Victorian program, growers can receive up to $1,000 per hectare to assist with plantation establishment activities. When combined with Commonwealth funding, the initiative aims to reduce financial barriers and encourage large-scale planting across the state.
The announcement coincides with the conclusion of the winter planting season, during which Hancock Victorian Plantations planted approximately 2.4 million tree seedlings through the Gippsland Plantations Investment Program. This year’s planting brings the total number of trees planted to more than 3.5 million.
The Gippsland initiative represents the largest single investment in plantation establishment in Victoria’s history and is projected to result in up to 16 million trees planted over the next decade: “This investment supports regional jobs and boosts local timber supply for more homes and timber products,” said Member for Eastern Victoria Tom McIntosh.
Industry leaders have welcomed the announcement, highlighting the importance of collaboration between the government and the private industry: “The planting of 2.4 million trees this year through the Gippsland Plantations Investment Program is a clear demonstration of what’s possible when government and industry work together,” said Victorian Forest Products Association CEO Andrew White. “This is a terrific new initiative that will help overcome the upfront barriers to new plantation establishment. This investment is critical to securing the timber required to build more homes for Victorians.”
