The Deputy Premier Bryan Green today welcomed a surge of private investment in Launceston and said major reforms of Tasmania's planning system would help pave the way for further developments.

Mr Green said the Launceston City Council's new scheme which took effect this week was expected to provide immediate economic stimulus for the northern region.

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

"The day after Launceston's new scheme was declared Bunnings announced plans for a $45 million warehouse that will create 180 new jobs.

Other projects in the pipelines include:

•       500 lot staged residential subdivision, Waverley (ex Gunns Veneer mill site);

•       Retirement village at Waverley (ex Gunns Veneer mill site) -$25million;

•       Student Accommodation, Inveresk;

•       25+ lots rural living development Swan Bay;

•       15+ lot industrial subdivision Waverley (ex Gunns Board mill site); and

•       Hazel Bros recycling/concrete proposal, Prospect - $5 million.

Mr Green said two multi-million developments by Target and Boags Brewery that will see a further 135 jobs with a combined investment of $37 million was also welcome news.

"There are further major developments in the pipeline and I look forward to more announcements in the near future.

"This is extremely positive news and shows confidence in Tasmania economy is continuing to build.

"I am confident the investment trend we are seeing in Launceston will flow to other areas of the State as all Tasmanian councils work towards rolling out new planning schemes.

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

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

"This reform is a huge step forward and is being achieved with unprecedented cooperation with local councils and their communities.

"Tasmania is changing and the Government is about creating jobs and opportunities for the future.

"Planning reform is a key priority of the Government which is why we have committed $6 million over four years to ensure planning laws keep pace with the needs of local communities and potential investors," Mr Green said.