Prime Minister Malcolm Turnbull and Queensland Premier Annastacia Palaszczuk have signed an historic memorandum to renew the city centre and accelerate jobs growth in a City Deal for Townsville.
They said the Memorandum of Understanding set out how all three levels of government would work together to encourage local business and employment opportunities as well as attract international investment in Townsville.
Early opportunities included revitalising the CBD and waterfront precinct – drawing on the Commonwealth’s commitment of $100 million for an integrated stadium and entertainment centre – and activating the State Development Area, including through delivery of the Commonwealth’s commitment of $150 million for the Townsville Eastern Access Rail Corridor.
The City Deal will build on Townsville’s reputation as a defence hub and leader in tropical and marine research and innovation..
Leaders from local, state and commonwealth governments will meet in Townsville on Monday 14 November to discuss commitments towards the City Deal, which is on track to be the first delivered for Australia.
North Queensland Senator Ian Macdonald said the development cemented Townsville’s leadership role in the Turnbull Government’s national City Deals program.
He said Assistant Minister for Cities and Digital Transformation Angus Taylor would be in Townsville next week to progress the City Deal negotiations.
“This City Deal is a partnership between Federal, State and local governments that will transform Townsville’s CBD by maximising investment and economic development opportunities across a broad range of sectors,” Senator Macdonald said.
Implementation of the City Deal and the Comprehensive Strategic Partnership with Singapore – with that government’s investment of $1.25 billion in the city’s defence infrastructure – would drive a renewed economic tempo in the region, he said.
“I welcome the fact that the MoU shows the way for other Queensland communities to develop their own City Deals,” Senator Macdonald said.