Townsville city centre is set to become more vibrant and liveable with accelerated jobs growth thanks to an historic memorandum for its renewal signed last week by the Australian Prime Minister and Queensland Premier.
The Memorandum of Understanding lays out plans for all three levels of government to work together to stimulate local business and employment opportunities as well as bring more international investment to Townsville.
Opportunities identified so far include revitalising the CBD and waterfront precinct – building on the Commonwealth’s commitment of $100 million for an integrated stadium and entertainment centre – and activating the State Development Area – helped along by the $150 million promised by the Commonwealth for the Townsville Eastern Access Rail Corridor.
Townsville’s reputation as a defence hub and its position as a leader in tropical and marine research and innovation will be built on through the developments in the City Deal.
Representatives from local, State and Commonwealth governments are due to meet this week in Townsville to make progress on the City Deal which, if successful, will be the first delivered for Australia.
The MoU is a framework used to negotiate city deals for Queensland in the future.