Adelaide is set to benefit from $551 million in funding with the three levels of government - Federal, State and Local - signing off on a City Deal that will help boost economic growth, tourism and innovation in the region in the next decade.
The focus area of the more than half-a-billion dollar City Deal will include:
Developing Lot Fourteen - the former site of the Royal Adelaide Hospital - into a research, innovation and entrepreneurialism in technology and the arts hub
Investment and strategies that will connect Lot Fourteen to the rest of the Adelaide city centre and metropolitan area in order for the rest of Adelaide to benefit from the investment on Lot Fourteen as well
Supporting growth in South Australia’s skilled workforce and industries at the forefront of innovation and cutting edge technologies
Supporting cultural and environmental projects in Adelaide’s suburbs through new facilities and technology that grow the local tourism sector
In an official media statement, it said: “The Deal paves the way for the transformation of Lot Fourteen in the north-eastern corner of Adelaide’s CBD into an innovation precinct. Lot Fourteen will host the headquarters of the Australian Space Agency, its mission control facility and the Australian Space Discovery Centre, as well as major cultural attractions, high tech businesses and world-class education facilities.”
“The major infrastructure projects planned for Lot Fourteen, together with a focus on supporting Adelaide’s growth, will help take the city to the next level in terms of its potential to achieve major economic growth over the longer term,” the media release stated.
Over the next six months, the Federal and State Governments as well as the City of Adelaide will work together to develop an Implementation Plan that will involve setting timeframes and “responsibilities for commitments”.
The three levels of government will be working with Collaborating Partners - including the University of Adelaide, Flinders university and the University of South Australia - during the development of the Implementation Plan.
Other local governments will also be engaged to participate and help develop relevant commitments under the City Deal.
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