Rebecca Ellston, Tasmanian Executive Director of the Property Council fronting the media after the stadium announcement
The Tasmanian government plans to construct a 23,000-seat stadium south-east of Hobart’s CBD, a key step forward in Tasmania’s pursuit of a 19th AFL license.
According to a report by PWC the proposed roofed stadium could bring in $300 million while it is being built, $85 million annually after it is finished, and $162 million annually from increased tourism to the state.
The nine-hectare Macquarie Point site has been chosen as the location for the proposed stadium, with the site already slated to be home to an Antarctic and science precinct, reconciliation park and mixed-use dwellings.
The stadium is predicated on the federal government covering half of the projected $750 million cost, as well as private participation with the state to commit $350 million to the potential works.
The project is also planned to provide 4200 jobs during construction, with 950 likely to continue when the stadium opens.
Rebecca Ellston, Tasmanian Executive Director of the Property Council of Australia, said the proposed precinct will encourage investors to acquire other economic drivers such as hotels, retail, office, and recreational areas.
“It gives Tasmania the opportunity to become a world-class destination for investment, migration, and also livability,” she said.
“This level of investment unlocks so much more potential for the state than just a stadium. It provides the confidence for further private investment in other economic boosters such as hotels, office space, retail and recreation.”
The news comes as the presidents of the AFL’s 18 clubs prepare to review the state’s bid plan in Melbourne before responding with a response a week later, likely after Saturday’s grand final.
In addition to stadium funding, the state government has already committed $12 million in annual funding over a 12-year term to support an AFL team.
The creation of a high performance and team administration complex is included in the timescale proposed by the Tasmanian government. The AFL would provide $10 million with the Tasmanian government would put $60 million to this.
Tasmanian Premier Jeremy Rockliff said the proposed stadium means thousands of jobs.
“It means hundreds of millions of dollars added to out economy, each and every year,” he said.
“A stadium, and entertainment precinct will help fund health and education systems we can all be proud of as Tasmanians.”
Rockliff said “not one dollar” is being diverted from the state’s health system into the stadium and that the same goes for housing, which the Premier stating the government has put in place plans to build 10,000 social and affordable houses, with 1500 to be completed by June next year.