Launceston’s revitalisation as a university city as been secured with the signing of the $280 million City Deal between the State and Federal Governments.

The relocation of UTAS from Mowbray to Inveresk, promised as an election commitment, is the largest single infrastructure investment in Launceston’s history and is projected to create 2,760 new jobs, including 430 new direct jobs during construction.

The deal is expected to be delivered in its entirety by 2022, with business welcoming the injection of funds as a game-changer that will encourage more private investment.

Other components of the deal include:

-$2 million immediately for a Tamar Estuary Management Taskforce to oversee the development of a River Health Action Plan this year, investigate and determine the preferred solution and funding options for upgrading Launceston’s combined sewerage and stormwater system;

– A new army cadet facility in Launceston’s northern suburbs to help younger members of the community develop resilience and leadership skills;

-a regional economic development strategy to identify the next wave of economic opportunities for the North to compliment the City Heart project and the Inveresk university campus development;

-a cultural study to enrich local culture, activities and events, promoting Launceston as a year-round visitor destination; and

-a $4 million Launceston hub of the National Institute of Forest Products Innovation to develop innovative ideas in areas like forest management and advanced manufacturing.