According to the Koroit and District Progress Association's newly elected president Sam Rudolph, that day isn't far off either, with numbers of residents likely now above the 2055 recorded at the 2016 census.

The council has also recorded an average of 14 new houses a year in the town since 2005, not including the surrounding district.

But Mr Rudolph said despite the town's progress, it received proportionally low government investment, with $1.3 million injected for projects in the past 18 months.

"A lot more money and focus needs to be spent on this town," Mr Rudolph said.

The progress association, formalised on Wednesday, is the first community committee the town has had in more than five years since dwindling numbers caused an earlier traders' association to end.

"I've noticed Koroit doesn't have a voice at council level, there's no Koroit councillor as such," Mr Rudolph said of reasons for the new committee.

Committee member Renee Lane said she signed up after seeing gradual demographic change in Koroit.

"There are young families. The local parks are getting well utilised, you see lots of mums with prams in the street. The playgroups and kinders are full," Ms Lane said.

"I think a lot have been locals growing up and they want to come back home with families. Koroit is just a lovely paced affordable option. I think it has a close-knit supportive community as well."

Just this week the council approved exhibiting plans to resurface the town's southward footpath, and Mr Rudolph said advocating for a blue stone or cobble stone surface would be the committee's first priority.

"Blue stone or cobblestone footpaths last more than a lifetime, whereas asphalt lasts 10 to 15 years and Koroit looks tired," he said.

The committee will also throw support behind residents seeking to decorate the main street with flags, while advocating for improved access around Koroit and in the long-term a possible truck detour.

Mr Rudolph, the owner of Noodledoof Brewery, opened one of three new niche Koroit business in the last two months.

While the newcomers are a sign of change, some say there's a growing demand for essential businesses in the town too.

The council extended Daley's IGA permit in June and owner Michael Daley is hopeful more everyday services will come to Koroit.

"We haven't got what everyone needs," he said.

"I would be encouraging of other businesses to look to Koroit to open.

"We need a hardware store and a bank just to name a few.

"It's a very affordable town and a great community."

Meanwhile, Bega Cheese Limited are building a new $34 million lactoferrin extraction plant at the Koroit plant, while a 59-lot subdivision has council approval at the corner of King Street and Koroit-Port Fairy Road.

Mr Rudolph was optimistic more businesses would follow.

"I think there will be a natural movement of those services coming into the town. You can't force them, but if the demands there the supply will follow," he said.

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