The Hodgman Government is supporting job creating investments in the North and North West of Tasmania through our $100 million Northern Economic Stimulus package.
The CH Smith development in the heart of Launceston is an exciting proposal and would be a shot in the arm for the Northern economy.
At its meeting today, the Launceston City Council agreed to apply to the Government’s $60 million loan fund for $9 million to help get the CH Smith project off the ground and I have instructed Treasury to assess that application as quickly as possible.
This is exactly the type of project that the $60 million loan fund was set up to support.
So far, ten councils from the North and North West have indicated they will be applying for over $36 million from the loan fund. The ten councils are Dorset, Launceston City, West Tamar, Central Coast, Northern Midlands, Circular Head, George Town, West Coast, Kentish and Latrobe.
As applications are finalised I will be announcing the various projects, noting that the application period closes on 31 March 2017.
The Stimulus Package will help boost the Northern economy for the next two years and will fill the gap until the UTas redevelopment at Inveresk gets under way.
The Northern Economic Stimulus Package will support in excess of 800 direct and indirect jobs and support $100 million in additional State and Local Government infrastructure, as well as $100 million in private sector investment over 2016-17 and 2017-18.
These are targeted measures that will not only create jobs in the short term, but will leave a legacy of improved infrastructure for our schools, in our northern regions and across industries like civil construction and tourism.
Peter Gutwein, Treasurer
