The next step for the proposed $208 million upgrades to UTAS Stadium is to present the plans to the state government, says the mayor, after the council endorsed the draft future plan.
The City of Launceston council endorsed the UTAS Stadium Draft Future Direction Plan at its meeting on Thursday afternoon.
The plans look at the stadium's future to transform it to a year-round venue, meet growing demands and provide more indoor sporting facilities in the region.
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It proposes achieving this through a $109m stadium upgrading and adding a new $99m sporting and entertainment facility able to cater for up to 5000 people for events.
Mayor Albert van Zetten said the next step was to formally send the plan to the state government for further consideration, engagement and hopefully implementation.
"The jobs that would be created during the construction stage alone would be immense, but it goes much further than that," he said.
"Our initial economic impact studies show that a fully upgraded stadium and associated indoor sport and entertainment facility would inject an expected $62 million a year into our economy, in addition to the expected $60 to $70 million direct economic contribution to Launceston and the broader Northern region."
He also said it would likely take between five and seven years for the upgrades to be completed.
All but two councillors voted in support of the draft plans.
Cr Paul Spencer, who abstained, said the money would be better spent on the Launceston General Hospital and the kanamaluka/Tamar River.
Cr Tim Walker, who voted against it, said he was concerned the council would be limiting itself to lobbying for one major project from the state government, and limiting its ability to lobby for others such as affordable housing.
Those councillors in support of the endorsement spoke on the benefits it would bring to the city and the region economically, educationally and recreationally.
The council plans to shift the ownership of the stadium to the state government through the creation of a trust.
In doing so, Cr Nick Daking said it was a strategic business decision for the council, with many benefits.
"We're going to be reducing millions of dollars of operational funding out of the budget each year, to removing it altogether," he said.
"[We will be] attracting more people to the region, not just to use the facility but we're going to create jobs, providing opportunities for those who studied in university and also we're providing great entertainment which will flow into tourism, hospitality, car hire, retail.
"This is not just for the city, it's for the entire region."
The proposed redevelopment of the stadium will cost an estimated $109 million to increase the stadium's seating to 24,112.
It will redevelop the eastern and northern stand to include a retractable lower level to create a rectangular field if needed and redeveloping the southern stand to link to the sport and entertainment facility.
It will also feature high-performance training, recovery, admin, education and research facilities to support athletes, with a primary focus on AFL. Alongside commercial opportunities to activate the area, such as health businesses, cafes and shops.
A new $99 million indoor entertainment and sporting facility is also proposed for the Old Bike Track site by the southern end of the stadium on Invermay Road.
It will feature three indoor courts - capable of hosting a range of sports including basketball, futsal and netball - and indoor training and recovery spaces.
Alongside a show court made possible by retractable seating to accommodate up to 5000 people for concerts, exhibitions/conferences and higher level basketball matches, netball and other sporting events.