The Victorian Government has potentially allowed for a reported $191 million worth of retail expansion by fast-tracking new Aldi stores and Woolworths hardware stores in Victoria.
On Monday, Planning Minister Justin Madden announced that the planning assessment for five new Aldi stores and 12 Woolworths large format hardware stores across Victoria would be fast-tracked.
Woolworths entered the $24 billion hardware sector last year with the acquisition of Danks Holdings Limited, a joint venture with American home improvement retailer Lowe's, the second largest home improvement retailer worldwide and the 7th largest retailer in the U.S.
Mr Madden predicts the new development will create 1030 construction jobs and 1740 retail jobs in Victoria.
"In addition to delivering new short and long term jobs these projects have the potential to provide further significant economic benefits and increase retail choice - which is good news for Victorian families," Mr Madden said.
Woolworths is proposing to develop the first of its large format hardware stores in Victoria at Coolaroo, Burnside, Preston, Hawthorn East, Oakleigh South, South Morang, Mornington, Wendouree, Geelong, Bendigo, Knoxfield, and Carrum Downs.
Aldi is proposing to establish five new supermarkets at North Balwyn, Rye, Drysdale, Highton and Geelong West.
Mr Madden said he had appointed two advisory committees to provide advice about proposals for each site. He also said that consultation with local councils and adjoining residents will occur as part of the process.
If approved, the construction is expected to occur across Victoria over the next three years.