The Federal and State Government will invest a further $10 million toward the largest urban renewal project ever undertaken in regional Tasmania, the Devonport Living City project.
Prime Minister, Malcolm Turnbull, said the investment, complemented by $5.2 million from the Devonport City Council, will transform the North West Region through the creation of new tourism opportunities, food experiences and business ideas, including waterfront precincts focused on highlighting Tasmania’s tourism, arts, food and services excellence.
“Tasmania’s North West is a thriving regional economy and we want to back its plan to keep growing businesses, creating more jobs and more opportunities for locals,” Mr Turnbull said.
“Our investment in this project is yet another example of what can happen when Liberal and Nationals Governments at State and Federal level partner with the private sector to create the jobs and opportunities Australians deserve.”
Deputy Prime Minister and Minister for Infrastructure and Transport, Michael McCormack, said the funding backs the government’s commitment to regional development.
“This is a game-changing project for regional Tasmania and will realise Council’s long held vision to open the central business district to the Mersey River, attracting tourists as well as benefiting locals,” Mr McCormack said.
“Around Australia, the Liberal and Nationals Government is investing in regional communities to help them grow and prosper. We all know that when the regions are strong so too is our nation and this Government is passionate about promoting the regions.”
The Nationals’ Senator for Tasmania, Steve Martin, said he is thrilled to see the project he championed as Mayor come to fruition thanks to his work in government.
“The project will bolster Tasmania’s growing tourism market, helping the north west capitalise on Tasmania’s only passenger ferry service—the Spirit of Tasmania—through the creation of a major tourist gateway and destination in its own right,” Senator Martin said.
“This vital project will generate significant economic benefits with hundreds of jobs during the construction period and an estimated 830 on-going full-time direct operational jobs.”
It is estimated the project will inject $112 million annually into the regional economy once the master plan is fully implemented.
This investment builds on the $70 million Stage 1 of the project, funded in 2015 with $10 million from the Australian Government, $13 million from the Hodgman Tasmanian Government and the remainder from the Devonport City Council.