TASMANIAN Premier Will Hodgman last week announced the $60 million Northern Cities Major Development Initiative, which aims to turbocharge Northern Tasmania's economy.
"The $60 million Northern Cities Major Development Initiative will target Launceston, Devonport and Burnie, where the economy hasn't recovered as quickly as the south," Mr Hodgman said.
"Preliminary work will begin immediately on projects including the Devonport Living City, the Launceston University of Tasmania Campus Relocation Project, and enhancing the presence of the University of Tasmania at West Park in Burnie.
"This is an important opportunity to change the economic fabric of our northern cities, generating hundreds of millions in construction work and thousands of jobs."
Treasurer Peter Gutwein said the investment is just what Tasmania's north needs, adding that it will provide a boost to the northern construction sector and attract additional investment, creating jobs and opportunity for Tasmanians.
The Coordinator General will work in close collaboration with northern Tasmanian councils to strategically drive these infrastructure investment projects.
To ensure the Coordinator General has the necessary support for this project an additional $225,000 will be made available in the State Budget each year for the next two years.
The Coordinator General, together with local governments, will work together to direct the $60 million across the northern cities, and manage the timing and nature of the investments.
Mr Gutwein said that the planning and capital funds will be available over the coming four years, and that additional capital funds would be provided in future budgets if necessary.