The City of Launceston council will consider the My Place My Future plan at its Thursday meeting.

Part of the Launceston City Deal, the council's general manager Michael Stretton said the commitment to invest in these suburbs would not only strengthen them, but would have a lasting effect on the prosperity of greater Launceston.

"Ultimately, through this plan, we want to support economic and employment growth in the northern suburbs, and assist the residents of those communities through improved lifestyle, social and economic outcomes," he said.

Accounting for almost a third of Launceston's population, the scope of the plan covers the suburbs of Invermay, Mowbray, Newnham, Mayfield, Rocherlea, Ravenswood and Waverley.

The plan will address six action areas: enterprise growth; employment and wages growth; the celebration of community strengths; liveability; strengthening the next generation; and improved access.

With a significant amount of work already undertaken against many of the strategies, Mr Stretton said the plan would not duplicate the progress, but rather enhance where required, address any gaps, and facilitate further conversations where necessary.

"It's important to acknowledge that the implementation of the My Place My Future Plan will be ongoing, and is supported by a commitment to undertake a shared annual review of programs and services being delivered in the northern suburbs," he said.

"The potential impact for Launceston's northern suburbs is significant.

"The plan will ultimately create mechanisms for shared, practical place-base conversations to occur."

Mr Stretton said the council would coordinate the plan's implementation once it had been formally released, including any further community engagement, and collaboration with state and federal stakeholders.

Once adopted by the council, the plan will be officially launched by all three levels of government.