Web post – Department of State Growth, 18 January 2023
Tasmania’s new Arts, Entertainment and Sports Precinct, Macquarie Point, Hobart
We have a once in a generational opportunity to deliver a transformational infrastructure project that will unlock economic activity and invigorate a sense of community and pride, delivering flow on benefits right across Tasmania.
The Macquarie Point site was selected as the preferred location due to its proximity to the city, topography, and connections from the water. Surrounded by the River Derwent, the city of Hobart, kunanyi/Mt Wellington, and the Tasman Bridge, it will be an iconic waterfront precinct, attracting elite arts, entertainment, business and sporting events to Tasmania.
Macquarie Point, as an arts, entertainment and sporting precinct activated 365 days of the year, featuring a roofed stadium, would become a global destination for events based on location and experience.
The precinct can host the stadium, while benefitting the science and Antarctic precinct, hospitality venues and convention facilities, with scope and aspiration also to incorporate the proposed reconciliation park in liaison with the Tasmanian Aboriginal community.
It will enable Tasmania to compete for arts and cultural events including major concerts, conferences, exhibitions and sporting fixtures, whose organisers currently don’t consider Tasmania as an option due to the lack of world class venue facilities and capacity constraints.
All these activities will bring jobs, economic activity and visitors to Tasmania and will allow us to build the image of our State as a clean, sustainable destination that is leading the way in Australia.
It will deliver jobs for our construction workers and allow Tasmanians to build greater expertise in the events industry, the conference industry and drive more traffic into our hotels, restaurants, bars and cafes.
It will strengthen Tasmania’s economy, delivering $2.2 billion in economic activity over 25 years providing more opportunity to invest in schools, hospitals, roads, social housing and future critical infrastructure projects. Transport corridors will better connect communities and open further housing and development opportunities.
It’s expected that at least 44 events (28 new to Tasmania) could be hosted at the new stadium, seeing 587,000 attend per year, including 123,500 overseas and interstate visitors.
During construction of the stadium $300 million in additional economic activity and 4,200 jobs will be created whilst $85 million in additional economic activity, and 950 jobs per year will be created during stadium operations. Opportunities in the precinct around the stadium will create up to 6,720 jobs.
The total funding requirement is $715 million. The Tasmanian Government has announced a commitment of $375 million. The AFL will contribute $15 million. A further $85 million is proposed to be funded through borrowings against land sale or lease for commercial uses. The remaining capital funding request to the Australian Government is $240 million. This represents one-third of the total cost. No ongoing funding or subsidy is sought as it is estimated that the stadium could operate at break-even or generate a small profit annually.
The stadium is proposed to be operational in late 2028.
The Macquarie Point Stadium will be a place for everyone, excitement and entertainment, Tasmanian aspiration, gathering, recognition and reflection, global connectivity and the pursuit of the extraordinary.
State Growth will now undertake further feasibility analysis which will consider issues such as stadium functionality, site issues, as well as traffic and transport considerations, finance and funding following feedback from the Australian Government, planning approval pathways and procurement models for the engagement of relevant contractors. We will continue to engage with our key stakeholders throughout these processes.
The new arts, entertainment and sports precinct at Macquarie Point is a key element of a long-term vision for sporting and entertainment infrastructure across Tasmania. It builds on the Government’s significant investments into, and plans for existing major facilities such as MyState Bank Arena, the Wilkinsons Point precinct, UTAS Stadium in Launceston and Dial Park in Penguin.
The business case for Tasmania’s new Arts, Entertainment and Sports Precinct at Macquarie Point, Hobart, which strongly supports the feasibility of the project, is available here:
Hobart Arts Entertainment and Sports Precinct – Business Case
Appendices:
- Macquarie Point Stadium – Tasmanian Arts, Entertainment and Sports Precinct – Liminal Studio Pty Ltd
- Hobart Stadium – Site Selection Process Report – MCS Management and Consulting in conjunction with Philp Lighton Architects
- Pre-Feasibility Study for Regatta Point and Macquarie Point Sites – Aurecon
- Hobart Stadium Economic Impact of new Arts, Entertainment and Sports Precinct – PwC
- Macquarie Point Estimating the economic contribution of commercial uses at the new arts, entertainment and sports precinct – PwC
- Hobart Stadium Capacity Optimisation Analysis – MI Global Partners
- Hobart Stadium Cost Benefit Analysis Report – MI Global Partners
For more information please contact: [email protected]
Rebecca White MP, Tasmanian Labor Leader, 19 January 2023
Cost benefit analysis exposes stadium folly
Jeremy Rockliff has been caught out misleading Tasmanians about the economic effects of his reckless $1 billion Hobart stadium proposal.
An unredacted copy of the Hobart stadium cost benefit analysis has revealed the total payroll tax returns to the Government from the project and associated economic activity will be just $300,000 per year – barely one per cent of the amount taxpayers will have to fork out just for the interest payments on the stadium debt.
This scuttles the claims the Government was falsely making that the stadium will help to fund health, housing and cost of living.
The unredacted report shows the stadium will leave our economy worse off and divert money away from essential services—not just today in the middle of a health, housing and cost of living crisis, but for decades to come.
Little wonder Jeremy Rockliff tried to hide this figure from Tasmanians by redacting it.
The Premier has staked his leadership on this reckless project, which Government reports prove will be an absolute dud. He then tried to hide the truth from Tasmanians, and continued misleading them about the stadium helping the Government to invest more into essential services.
The stadium is a reckless waste of $1 billion of public money when there are so many other higher priorities that need investment.
