A proposed $60 million cultural centre will help boost state tourism and the arts industry if approved for development, key stakeholders have said.
Developer Errol Stewart announced plans for the Kanamaluka Cultural Centre on Friday, which would provide a 750-seat auditorium, conference spaces, exhibition space, an outdoor screen, digital suite and black box area if approved.
Visit Northern Tasmania chief executive Chris Griffin said any development of the same scale and significance as Kanamaluka would be a game-changer for the city when focusing on tourism.
"Being able to have the capacity of concerts and conferences like that opens up a market for us to explore," he said. "[It would] create a magnetism for a new type of visitor to the state."
Mr Errol estimated he would need $15 million in funding from the state government and $40 million in funding from the federal government to help develop the cultural centre.
A state government spokesperson said they welcomed the announcement about the proposed cultural centre and looked forward to working with Mr Errol and the federal government on the project.
Bass Liberal MHR Bridget Archer said she had already been in discussion with Mr Stewart and relevant ministers about the development.
"This is a really exciting concept from Mr Stewart, someone who has already played a significant role in reimagining the Northern Tasmanian region over many years," she said.
The project has been in the works for the past six months, and Mr Stewart hoped a development application would be approved by the end of the year.
Launceston's deputy mayor Danny Gibson said that although he couldn't speak on behalf of the council, as an individual he thought the initial concept drawings of the development were exciting.
"This has the potential to transform the city and Northern Tasmania," he said. "The opportunity to have more TSO concerts in the North, welcome more arts and cultural events, and hold more conferences has the potential to be transformational. I know the power of the arts."
Recently, questions arose as to the potential of big box developments bringing traffic issues and flooding concerns to the Invermay area - where the development would be located - but Mr Gibson said he had faith in the planning scheme.