The Tasmanian Liberal Government is committed to strengthening the State's future for all Tasmanians.
The Government believes that activating Hobart's waterfront precinct would not just help diversify our economy, it would also transform the city into a cultural, entertainment and sporting capital to rival any on the mainland, or indeed around the world.
After conducting a feasibility into the benefits of such a precinct and exploring various site options, it has become clear, Macquarie Point is the best location for this development.
A PricewaterhouseCoopers report shows that a new arts, entertainment and sporting precinct at Macquarie Point, with a 23,000-seat roofed stadium as the centrepiece, would create 4,200 jobs during construction and maintain 950 jobs a year during operation.
During construction it would generate $300m in additional economic activity then $85m each year after it was built as well as $162m each year in consumption, due to a significant spike in the visitor economy.
Our vision for the boutique precinct is to complement the Hobart waterfront, co-existing with the proposed Antarctic and Science precinct which the Government remains firmly committed to.
There are massive opportunities for complementary boutique hospitality venues and significant flow-on effects for hotels, restaurants, bars and retail outlets – with every dollar injected in the economy allowing the Government to reinvest in the essential services that matter to Tasmanians, including health, housing and education.
A precinct like this in the heart of Hobart's waterfront will unlock transport corridors and the associated development opportunities with it. This includes the northern transport corridor link and a ferry network.
History stands to be made this month if Tasmania achieves our dream of having our very own team in the AFL.
That licence would be the catalyst for this development at Macquarie Point, but the benefits of this precinct spread far beyond footy and far beyond the State's south.
Economic modelling is based on at least 44 events being held each year at the new roofed stadium.
On a playing surface that can be adapted to a rectangular pitch or an oval – events could include anything from watching our very own Tassie AFL team take on some of the league's toughest opponents, to watching international cricket, rugby or an NRL display match.
Local events such as Dark Mofo can grow and expand, using this new precinct for their festival calendar and Tasmania would finally be able to attract international and national artists, bands and events on a scale never before possible.
This proposed development would provide the construction industry a pipeline of certainty, kicking into play as other major projects finalise.
It would also complement investments into UTAS Stadium in the north and Dial Range Park in the North-West, which will both be beneficiaries of AFL content on a scale not experienced before if Tasmania is granted a licence.
The Government is firm that it will cap its investment at $375 million, with further funding to be sought from the Federal Government and private equity investment.
We will now proceed with the next stage of the feasibility work which will focus on building the stadium at Macquarie Point and will include the development of a business case to secure full funding.
We also believe there is potential to work with the Hobart City Council and all stakeholders to consider how Regatta Point fits into the broader precinct plan.
This Government is committed to delivering transformative infrastructure that will help our economy thrive into the future, providing jobs and opportunities for Tasmanians.
The full report can be found here.
