The West Coast will receive a share of the royalties generated by mining in their region under a Labor government.
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The policy would be modelled on the Royalties for Regions program introduced in Western Australia in 2008 and distribute up to 25 per cent of royalties to social and economic projects on the West Coast.
The plan was endorsed by the Labor Party at its state conference in Burnie on Saturday and supported by Shadow Minister for Regional Development Anita Dow.
"As I travel across the West Coast, I meet many people and it's become so apparent to me that there are issues around housing, access to essential health services, social services," she said.
"Our West Coast communities are doing it pretty tough and it is upon all of us I think to commit to support this motion today and to give them our word that we will be looking at how we can better support them into employment, provide better essential services to them and work with them to ensure the growth that our West Coast communities deserve."
Ms Dow thanked the West Coast branch of the Labor Party for bringing the proposal to the state conference.
The Labor membership agreed to "investigate and adopt" a local Royalty for Regions program for the West Coast to recognise "that area's contribution to Tasmania's economy".
West Coast Council unsuccessfully fought to get a share of mining royalties a decade ago under former mayor Darryl Gerrity.