The Hodgman Liberal Government is committed to investing in strategic projects that will grow the arts sector in Tasmania and the broader economy.
The Legislative Council has today passed legislation that will facilitate construction of the $90 million Creative Industries and Performing Arts Project 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 Tasmanian Government is providing $30 million supporting the Project as it is a key part of our long-term plan for growing investment and jobs in the state’s cultural and creative industries.
The passage of the Theatre Royal Precinct Redevelopment Bill 2016 is a crucial milestone in delivering this exciting Project, which will cement the State’s growing reputation as an arts and cultural leader, as well as delivering significant economic benefits.
Once enacted, the legislation will remove all 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 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 University will commence construction later this year, with the project scheduled to be completed by the end of 2018.