You are using an older browser version. Please use a supported version for the best MSN experience.

Turnbull, Towsville sign first City Deal

AAP logoAAP 9/12/2016

Prime Minister Malcolm Turnbull and Townsville Mayor Jenny Hill have signed the first ever City Deal, an election promise to boost jobs and investment in cities which sign on.

The next deals to be unveiled will cover Launceston and Western Sydney.

Under this agreement, the Commonwealth, state and local governments will collaborate with a new Townsville Development Corporation delivering urban renewal to lead the revitalisation of Townsville.

Increased industry investment, export and jobs will be driven by an Industrial Development Board to activate economic activity in the State Development Area near to the Port of Townsville.

The Commonwealth will invest $100 million for a new stadium and entertainment centre and $150 million for the Townsville Eastern Access Rail Corridor.

"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," the prime minister said in a statement.

Townsville stands to do well from other government decisions.

It will be a major beneficiary of the enormous Adani coal mine and also gain substantial investment from Singapore upgrading defence North Queensland training areas, including the Townsville Field Training Area.

image beaconimage beaconimage beacon