The value of planning applications in Launceston has jumped 88 per cent in the past two years since the signing of the City Deal, a progress report will detail today.
There have also been more than 100 expressions of interest in the Tamar Action Grants program and $54 million in additional investment in student accommodation.
The second annual progress report will address the seven City Deals signed to date, including Launceston and Hobart, giving justification for extending the local deal from five to 10 years.
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City of Launceston mayor Albert van Zetten said the City Deal was making Launceston "one of Australia's most liveable and innovative regional centres".
"Two years into the Launceston City Deal, what started out as a vision - to create one of the most liveable and innovative regional cities - is becoming a reality," he said.
"The report also sets out the milestones coming up over the next 12 months, such as turning the first sod on the Inveresk redevelopment. We are looking forward to delivering the projects that will benefit Launceston and the surrounding region for decades to come."
Other figures in the report include 12,300 people being assisted by the Entrepreneurship facilitator and $9.7 million invested in forest product innovation projects.
Investment from local, state and federal governments into the City Deal total more than $450 million, and the council voted to support extending the deal in July.
Federal Population, Cities and Urban Infrastructure Minister Alan Tudge said the City Deal had resulted in "unprecedented public investment" in Launceston.