Green light for arts precinct Tue 11 December 2012 Lara Giddings Premier Download hi-res version The construction of a new $75 million arts precinct next to Hobart's iconic Theatre Royal will create much needed jobs and opportunities for Tasmanians. The Commonwealth Government today confirmed a $37 million grant for the Academy of Creative Industries and Performing Arts under the Education Infrastructure Fund regional priorities round. The Premier, Lara Giddings, today joined Commonwealth Minister for Tertiary Education, Skills, Science and Research, Chris Evans, University of Tasmania Vice Chancellor Peter Rathjen, and her Federal Labor colleagues to celebrate the project being given the green light. UTAS will invest $22.9 million while the State Government will contribute $15.2 million, including includes land valued at $2.3 million, $900,000 for archaeological investigations and $12 million for the facility. "With funding now secure, we look forward to this project progressing from the planning to construction phase," Ms Giddings said. "It is estimated that the project will create 255 jobs during construction along with $660 million in direct and indirect economic benefits over the next seven years. Ms Giddings said the development would see the construction of a new Conservatorium of Music, along with the rejuvenation of Australia's oldest working theatre. "This is an exciting project for the Theatre Royal which will include the construction two new flexible theatre spaces, greatly improved amenities, disabled access and expanded foyer space. "The Academy will play an important role in cementing Tasmania's reputation as a must-visit tourist destination and a centre for excellence in arts and entertainment." "This project joins the growing list of projects on the Hobart waterfront either underway or soon to begin construction including Macquarie Wharf Number 2 and Parliament Square. Ms Giddings said the new centre would use the National Broadband Network to link with UTAS' North and Cradle Coast campuses in order to transmit lessons and performances over optic fibre. "The development will also allow closer collaboration with nearby cultural institutions like the Tasmanian Museum and Art Gallery and the Tasmanian Symphony orchestra. "I congratulate Minister Evans and my Federal Labor colleagues for recognising the potential of this project and joining with us to make the vision a reality. "This is another example of the Tasmanian Government working together with the Federal Government and institutions like the University of Tasmania to stimulate the economy and build jobs and opportunities for Tasmanians."