Completion of the $100 million ICON (Myer) development is on track with Hobart’s retail heart set to enjoy the ringing of tills in time for Christmas, according to the developer.

Premier Will Hodgman, Minister for State Growth Matthew Groom and Hobart Lord Mayor Sue Hickey toured the site earlier this week and received an update on progress.

“After seven long years of inaction on the site, we are pleased to have played a role in securing the future of this important project with the Government agreeing to a $15 million commercial loan to secure the project,” Mr Hodgman said.

“More than 400 jobs have been created by this development and it is estimated retail turnover will be $95 million a year.”

Meanwhile, the most recent ABS retail figures show in June, total retail spending hit a high of $477.1 million, a 0.3 per cent increase on May and a 2.9 per cent increase since last year another solid month for retail in Tasmania.

“This is another sign of growing confidence in the economy. We have the highest business confidence in the country, a booming construction sector and significant jobs growth,” Mr Groom said.