Australia’s first City Deal to grow Townsville’s economy and transform the city centre was signed today by the Prime Minister, Queensland Premier and Townsville Mayor.
The City Deal marks a new era for Townsville, enabled by all three levels of government coming together to secure the economic success of Townsville and its people. The deal will deliver an integrated package of initiatives to make Townsville more attractive to investors, increase jobs and growth, and revitalise the city.
Prime Minister Turnbull welcomed the historic Australia-first City Deal. The Townsville City Deal will give businesses and the community more confidence in making decisions about their city’s future.
Governments have listened to the needs of local residents and businesses. Townsville needs confidence for industry and investors, and more jobs for the future.
We are bringing all our levers together across infrastructure, industry, trade and investment, defence, research and education, energy and resources to build a liveable city that’s a great place to invest, work and visit.
Under the Deal, a new Townsville Development Corporation will deliver urban renewal to lead the revitalisation of Townsville.
Increased industry investment, export and jobs will be driven by an ambitious Industrial Development Board, to activate economic activity in the State Development Area near to the Port of Townsville.
Governments will identify opportunities to partner with the private sector including through the Commonwealth’s new Infrastructure Financing Unit to accelerate investment in the proposed expansion of the Port, the Townsville Eastern Rail Access Corridor and associated State Development Area, and urban renewal in the waterfront and CBD. The Commonwealth has allocated $3 million to this work in addition to direct infrastructure funding, and will explore opportunities to leverage our financing vehicles such as the Northern Australia Infrastructure Facility and the Clean Energy Finance Corporation.
A joint Taskforce will be created to identify solutions for sustainable, long-term water supply for Townsville. A Smart City Strategy will provide a flagship for a modern digital city and Local Government.
Queensland Premier Palaszczuk welcomed Australia’s first ever City Deal in Townsville.
The Deal will build North Queensland’s potential and economic future as the economic gateway to Asia and Northern Australia. All three levels of government are committed to building a city that’s a great place to invest, live and work.
Townsville’s Mayor Jenny Hill hailed the Townsville City Deal as “a momentous 15-year commitment to bring to life a shared vision for Townsville”.
Our combined government investments of $240 million – with $140 million from the Queensland Government and $100 million from the Australian Government - and the Council’s contribution of prime waterfront land, will see construction on the new Stadium commencing in 2017.
Financing expertise from the Commonwealth and Queensland governments will help the Council to progress development of a new entertainment and convention centre in the Waterfront precinct.
Townsville is the largest city in Northern Australia with a population of more than 190,000 people. It is projected to grow by around 42,500 people over the next decade. The Townsville City Deal will help ensure that Townsville is well placed to lead economic development in Australia’s north.
The agreement of the City Deal is the beginning of a long-term collaboration.
We have achieved a significant amount since the deal was announced in June this year and there is still more work ahead of us to deliver the objectives of the City Deal. The next phase of work is development of a detailed implementation plan by March 2017. We will continue to engage the local community and the private sector to progress this work and support the people of Townsville to realise their full potential.