REBOOT THE STATE

41 projects to fix post-covid slump

FORTY-ONE projects and an $8.7 billion pipeline of public and private sector building projects will help Tasmania emerge from its post-COVID 19 economic slump.

However, industry leaders say more private sector support will be needed.

THE construction of dozens of key infrastructure projects will aid the state’s COVID-19 recovery but more private-sector support is needed, industry leaders say.

A list of Tasmanian pipeline developments compiled by property analysis company Propertyology shows billions of dollars will be spent across 41 major projects over the coming years.

A recent Deloitte Investment Monitor report shows the state had $8.7 billion worth of private and public sector building projects either under construction, committed to, or being considered.

The $260 million Derwent Entertainment Centre development and the $576 million Bridgewater project highlight upcoming Hobart developments.

Destination Southern Tasmania chief executive Alex Heroys said the overall statewide investment in roads, hotels and entertainment hubs would increase tourism numbers and the economy.

“Obviously, investment in the Hobart Airport to double passenger capacity in the next 10 years will have a huge impact on Southern Tasmania,” he said. “Plus, hotels such as the newly opened Crowne Plaza, the Marriott Luxury Collection The Tasman late this year, the Vibe, the Kangaroo Bay hotel and the Movenpick will increase visitor accommodation options.

“But visitors must also have new products to consume, which is where projects like the Hedberg Centre for the performing arts and the Macquarie Point’s Stage One entertainment precinct will attract interstate and international interest.”

Tasmanian Chamber of Commerce and Industry chief executive Michael Bailey said further investment in infrastructure was needed to support local businesses.

“While we welcome the government doing its share of the heavy lifting, it will be the private sector that rebuilds the economy in Tasmania and we need to invest in more infrastructure, invest in our people and help businesses reopen and stay open,” he said.

“These projects are now more important than ever and we will work with government to make sure they happen.”

The right mix of public and private sector projects could create jobs to stimulate the economy and help get the state through the challenging times ahead, Master Builders executive director Matthew Pollock said. “There are more small businesses in building and construction than any other sector and the return on investment is significant,” he said.

“Private investment needs to be encouraged and supported. The government can’t do all the heavy lifting.”

Civil Contractors Federation Tasmania chief executive Rachel Matheson agreed.

“Investing in infrastructure projects is fundamental to our economic recovery postCOVID,” she said.

“We need the government and organisations to bring forward infrastructure investment right around the state to stimulate regional economies and support local jobs.”

Labor infrastructure spokesman Shane Broad said several projects had been “plagued” by delays or were yet to get off the ground: “We have seen embarrassing delays in several major projects.

“The government has a historical record of underspending on infrastructure.

“There’s no time for more delays and I’m urging the government to get on with the job and deliver the results.”

Building and Construction Minister Elise Archer said the government was working hard to stimulate the economy, and support Tasmanian businesses, families and individuals.

“The best way to get our budget back on track, grow business confidence and create jobs for Tasmanians is to grow the economy, and that is what we are doing,” she said.

Ms Archer said the current infrastructure package of $1.8 billion over two years would support an estimated construction value of $3.1 billion.