The 2016-17 Queensland State Budget will allocate an additional $40 million to building Townsville’s stadium, on top of the $100 million already allocated.
This additional funding has been unlocked because of a partnership reached with the NRL and the Cowboys, who will provide an upfront payment of $10 million towards the construction of the stadium. This will represent a prepayment of the rental by the Cowboys for the use of the stadium, on terms to be negotiated.
Townsville City Council will also contribute the land that the Stadium will be built on.
Treasurer and Minister for Sport Curtis Pitt said he was 100 per cent committed to this catalytic project to deliver the jobs, economic uplift and investment associated with a project of this scale for Townsville.
“The Palaszczuk Government’s commitment to delivering this project is unwavering and our $140 million contribution is testament to that,” Mr Pitt said.
“But the State Government alone cannot deliver this project for North Queensland and so far only Bill Shorten has pledged the remaining $100 million needed.
“This stadium will be an economic activator for the city in terms of post-game activity, it also boasts future plans for further expansion with a potential entertainment centre and there will be value uplift from the development of new properties within the priority development area.
“It will also deliver 700 jobs during the construction phase as well as on-going jobs in hospitality, new tourism opportunities and major events.”
State Development Minister and Minister for Natural Resources and Mines Dr Anthony Lynham said the only barrier to building was now the Turnbull Government.
“The Townsville City Council has committed to provide land for the project within the Townsville City Waterfront Priority Development Area,” Dr Lynham said.
“The State Government provided a business case to the Federal Government late last year recommending a $250 million centrally located best-practice regional stadium with a seated capacity of 25,000.”
Townsville MP Scott Stewart said the preferred option would also allow for the integration of an entertainment centre component at a future date, should funding become available.
“This resilient region has stared down its fair share of challenges in the past year and we’re getting back on track, but to help us on that journey what we urgently need is a Federal Government that’s genuine about partnering with and willing to put real money into a real vision for growth.”
Image courtesy of nrl.com