Deputy Premier Bryan Green today welcomed the declaration of Tasmania's first new local council planning scheme as part of the Government's major overhaul of the State's planning system.

The new Launceston Planning Scheme will take effect next week and is expected to provide immediate stimulus for investment in the northern region.

"Developments worth more than $100 million are already on the drawing board and this is the breakthrough investors have been waiting for," Mr Green said.

"The reform of Tasmanian's planning system is delivering greater consistency, certainty and clarity for investors and developers.

Mr Green said the new scheme marked a major milestone as all Tasmanian councils work towards rolling out new planning schemes.

"The Launceston City Council is our largest local government area by population and I congratulate them on taking the lead," Mr Green said.

"I believe the new planning scheme for Launceston will provide incentive for other northern councils to finalise their new schemes as we progress the biggest planning reforms we've ever seen in Tasmania.

Mr Green said councils in the North-West and Southern regions were well advanced with their new schemes which are expected to be completed next year.

"These new schemes will be a huge step forward and are being achieved with unprecedented cooperation with local councils and their communities.

"The new planning schemes build on the important reforms that have already been delivered including a single State-wide template, new residential building code and regional land use strategies.

"This is real change happening right now across Tasmania.

Mr Green said the Government had committed $6 million over four years to ensure planning laws keep pace with the needs of local communities and potential investors.

"Planning reform is a key priority of the Government because we want Tasmania to be a more attractive place to live and invest," Mr Green said.