HTS Group Ltd provides a complete design, system integration, installation and maintenance package to the transportation, traffic engineering, parking and sports timing industries in New Zealand,…read more
Queensland Government commits extra $40 million for ‘Federal election decider’ Townsville stadium
The Queensland Government has today announced that it will contribute a further $40 million to the planned Townsville stadium and entertainment centre, increasing is contribution to the project from $100 million to $140 million.
With the NRL adding $10 million to the funding, the move is seen as putting pressure on the Federal election campaign where the new central Townsville venue is seen as a key issue for Queensland voters.
Federal Labor leader Bill Shorten has previously pledged $100 million for the new venue in the key marginal electorate.
Brisbane's The Courier Mail has gone as far as suggesting that the the “Election may hang on (the Townsville) stadium”, adding that “the Federal poll on 2nd July will be won and lost in Queensland.”
While a recent study suggested that the new venue would need massive subsidies to operate, Prime Minister Malcolm Turnbull is reportedly under pressure to have the Federal Government back the balance of the $250 million project (although earlier estimates suggested it would cost $380 million to build, ed) if it retains power after the Federal election.
Announcing the extra funding for the project, Queensland Treasurer Curtis Pitt "today, we are putting this issue beyond doubt if people vote Labor.
"Essentially, the only missing piece now to ensure this has support no matter who wins the election is if Malcolm Turnbull comes forward with $100 million and matches Bill Shorten's pledge."
Treasurer Pitt said the stadium was vital for the region's economy, particularly after the mass sackings at Federal MP Clive Palmer's Queensland Nickel refinery.
The NRL’s $10 million contribution to the project will come in the form of a loan with the North Queensland Cowboys paying 10 years' rent for the venue upfront.
Meanwhile, the NRL will underwrite the commitment by agreeing to fund interest payments on the loan.
NRL Chief Executive Todd Greenberg backed the project, stating “the Cowboys are the reigning Premiers and they deserve a world class stadium.
“The State and Federal Governments made it clear that they wanted a commitment from the game before they would further invest in the stadium – and we have given that commitment.”
Townsville City Council will also contribute the land on which the venue will be built.
21st May 2016 - PLANNED NEW TOWNSVILLE STADIUM NOT FINANCIALLY VIABLE
2nd May 2016 - TOWNSVILLE STADIUM BACKERS DEMAND MORE GOVERNMENT FUNDING
14th March 2016 - TOWNSVILLE NORTH QUEENSLAND EVENTS HUB AIMS TO BOOST BUSINESS
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
Activating skyscapes for tourism, art, leisure and living TouchCloud Global (TCg) is a highly specialised international consultancy, broker and principal, devoted solely to activating and energising…read more
Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…read more
HYPOXI® is one of Europe’s most successful health and weight loss studio concepts. It’s the first weight loss technology to incorporate exercise with advanced vacuum and…read more
Headquartered in Brisbane with an Australia-wide network of satellite offices, PaySmart is one of Australia’s largest and longest-standing direct debit billing companies. In 1996 we began…read more
METRA Australia is your innovation partner for smart electronic locking, Access Control solutions and cashless payment systems to suit all types of leisure facilities. Our team’s…read more
Quayclean are a national cleaning and waste services partner with proven results in the understanding and delivery of cleaning needs and challenges faced by facilities including; major venues and…read more
JonasLeisure offers a complete range of leading leisure and recreation software brands – envibe, Centaman, Gladstone Health & Leisure, The Retention People, Nutrition Complete and…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!