North East businesses will be eligible for state grants worth up to $25,000, with a focus on those industries most affected by the stage three lockdown.
Premier Daniel Andrews said regional Victoria will move to step two of the roap map from midnight tonight and could possibly move to the next stage within just days.
"Regional Victoria will take one step today and potentially the next in the middle of the week," he said during the Sunday press conference.
The new support package will see $3 billion in cash grants, tax relief and cashflow support delivered to Victorian businesses.
Businesses in the hospitality and retail sectors will be the first to be supported.
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Mr Andrews said the multi-billion package aims to help businesses survive and keep Victorians in jobs.
It also takes the government's total business support to more than $6 billion.
More than $1.1 billion in cash grants will support small and medium sized businesses that are most affected by coronavirus restrictions including $822 million as part of the third round of the Business Support Fund.
Around 75,000 eligible businesses with payrolls up to $10 million will receive grants of $10,000, $15,000 or $20,000 depending on their size.
More than 108,000 businesses have already shared in $1.47 billion from the first two rounds of Business Support Fund grants.
Regional Victoria has a 14 day rolling average of just 4.1 average cases.
"This is the biggest package of business support in the history of this state," Mr Andrews said.
"We have never seen anything like this before."