- Coles set to invest $360 million in Victoria to create 3,500 jobs across the state
- $130 million to be invested by Coles in Geelong
- Victorian Coalition Government working with business to invest in Victoria
Coles is set to invest $360 million in Victoria and create 3,500 jobs across the state, Premier Denis Napthine and Coles Managing Director Ian McLeod announced today.
“One hundred years after GJ Coles opened his first store in Collingwood, Coles is investing in eight new stores in Melbourne and six new stores across regional Victoria,” Dr Napthine said.
“The Geelong region is the most significant regional winner, with Coles investing $130 million in four new stores now in the planning or construction phases.
“Across Victoria, building is already underway at three of the stores: Collingwood, Cowes on Phillip Island, Waurn Ponds in Geelong and construction of another two stores – at Lara and Torquay – forecast to commence before mid-year.
“Planning is also underway for new stores on freehold properties in Coburg North, Surrey Hills and Epping North in Melbourne and in regional growth areas of Drysdale and Woodend.
“New Coles stores that have already opened this financial year included a super store at Craigieburn in Melbourne’s growth corridor, plus new stores in Mill Park Lakes, Brighton and Cardinia Lakes.
“This is fantastic investment in Victoria, a great boost for jobs in Victoria and a significant show of confidence in the Victorian economy,” Dr Napthine said.
Coles Managing Director Ian McLeod said the $320 million investment in new stores reflected Coles’ confidence in the future of Victoria.
“It’s fitting that exactly 100 years after GJ Coles cemented his confidence in Victoria by opening his first store in Collingwood, we’re investing in another 14 stores here in suburban Melbourne and regional Victoria,” Mr McLeod said.
“And just like GJ Coles back in 1914, we’re committed to offer customers better value and service, while at the same time creating jobs in the community.”
In addition to the $320 million on new stores, Coles will spend an extra $40 million to refurbish existing stores across Victoria.
Since 2008, Coles has spent over $3 billion in rebuilding stores across Australia to dramatically improve their layout and transform the range of products on offer to customers.
In the past five years, Coles has opened 100 new stores and refurbished a further 350 stores nationally.
Across Victoria, Coles currently employs nearly 28,000 team members at its supermarkets, liquor and Coles Express stores, support centres and distribution centres.
Economic analysis by Deloitte Access Economics shows that in addition to the 103,000 team members employed by Coles across Australia, another 120,000 are created by Coles’ spend in the community.