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$130 000 for Economic Development in the Albury-Wodonga Region



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J o i n t M e d i a

R e l e a s e

THE HON ALEX SOMLYAY MR

Commonwealth Minister for Regional Development, Territories and Local Government T H E H O N T O M R E Y N O L D S MR

Victorian Minister for Rural Development T H E H O N H A R R Y W O O D S MR

NSW Minister for Regional Development

$130 000 FOR ECONOMIC DEVELOPMENT IN THE ALBURY-WODONGA REGION

THE 46™ ALBURY-WODONGA MINISTERIAL COUNCIL MEETING

Funding totalling $130,000 has been granted to the Hume Riverina Business Connect Incorporated ($65,000) and Investment Albury Wodonga Limited ($65,000) to undertake economic development activities in the region.

The funding was announced today in Sydney, at the 46th Albury-Wodonga Ministerial Council Meeting, by the Federal Regional Development Minister, Alex Somlyay, the Victorian Minister for Rural Development, Tom Reynolds, and the New South Wales Regional Development Minister, Harry

Woods.

“This funding is to ensure a smooth transition of the economic development functions from the Albury- Wodonga Development Corporation in its wind-down period,” Mr Somlyay said.

Mr Somlyay said in June 1995 the Ministerial Council decided that the Albury-Wodonga Development Corporation would commence an accelerated asset disposal programme over a five year period (subsequently extended to eight years). -

The Ministerial Council reaffirmed its commitment to the gradual wind-down of the Corporation and the orderly disposal of its assets. Both the New South Wales Government and the Victorian Government also confirmed that they are prepared to withdraw from the project. All Governments are

currently preparing to implement the required amendments to legislation to facilitate this withdrawal.

Mr Somlyay also announced at the Council meeting that the Governor-General in Council had appointed Mr Charles Stitz to be a Deputy Chairman of the Albury-Wodonga Development Corporation.

“I would like to congratulate Mr Stitz on his appointment. I am confident that he will make a valuable contribution to the work of the Corporation,” Mr Somlyay said.

27 August 1998

Contact: Graeme Hallett Media Adviser, Mr Somlyay’s Office (02) 6277 7060

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