The Hodgman Liberal Government continues to invest in strategic projects that will grow the arts sector in Tasmania and the broader economy.
Today, we have tabled legislation to facilitate construction of the $90 million Creative Industries and Performing Arts Development, adjacent to the Theatre Royal.
The Project will create a world-class cultural and arts precinct that will deliver significant improvements to the Theatre Royal, create a new home for the University Conservatorium of Music, and house an international research institute.
The tabling of this Bill represents the next step in realising this exciting Project, which is being delivered under a unique partnership arrangement between the Government, the University of Tasmania and the Theatre Royal Management Board.
The passage of this legislation will, among other things, ensure there are no legal impediments to the Project proceeding and enable the establishment of an ownership and management structure that supports the partnership model underpinning the Project.
The Tasmanian Government is providing $30 million in support for the Project, through a combination of capital funding and recognised property value from the transfer of the Wapping 4 site and the Taroona IMAS facility from the Crown to the University.
The Australian Government is providing $37 million in funding from its Education Investment Fund, with the balance of Project costs to be met by the University.
The Project promises to further cement the State’s growing reputation as an arts and cultural leader and will deliver significant economic benefits.
The Tasmanian Government’s support of this Project is a key part of our long-term plan for growing investment and jobs in the state’s cultural and creative industries.