September 20th, 2025Portland economy enters new phase
The diversification of the Portland economy is entering a new phase this week, with three feasibility studies underway on how best to drive development and growth across a range of local industries.
Minister for Regional Development Jaclyn Symes today announced commencement of the studies, which are being supported by more than $1 million through the Portland Diversification Fund.
In the first study, Quantem will assess the infrastructure needs, regulatory requirements and local demand for a bulk liquid storage terminal at the Port of Portland, which could be used to handle renewable fuels derived from plantation residue and other bulk liquid such as fertiliser, maritime fuel and edible oils.
If the terminal moves to the construction phase, it is expected to generate up to 120 jobs during construction, along with up to 12 ongoing local positions to support terminal operations, strengthening Victoria’s renewable energy supply chain.
The second study will support Immersion Group in evaluating the feasibility of establishing an onshore aquaculture facility for red Asparagopsus seaweed. When added to livestock diets, this native seaweed has been shown to reduce their methane emissions by up to 80 per cent.
An aquaculture facility in Portland is expected to be ideally located to service dairy farms in south-west Victoria and across the state, contributing to significantly reduce the sector’s carbon footprint.
Third, Glenelg Shire Council will deliver “Future Portland” — an interactive dashboard designed to help stakeholders respond to economic changes linked to a major pipeline of projects. The platform will be continuously updated to reflect new developments and guide strategic decision-making across the shire.
A consultant will engage with key sectors such as health, education, childcare, and housing, to gather local data for the dashboard, which Council will be able to use to increase resilience in the local economy.
The Portland Diversification Fund is designed to attract investment into Glenelg Shire that will identify and drive new growth opportunities, while supporting local businesses to increase diversification and productivity.
Link: rdv.vic.gov.au.
