The Queensland Government will provide $3 million in funding to help complete a component part of Council’s $28 million Esplanade Dining Precinct redevelopment.
Funding will be provided through a Building Our Regions Round 5 agreement for Stage 2 of the project, which relates to outdoor paving and awnings.
In May, Council endorsed fast-tracking the project to provide a much needed boost to the local economy following the impacts of COVID-19 and maximise the city’s appeal once tourists return.
In order to facilitate an accelerated program, Council adopted a three-staged delivery with the project on track to be completed by June 2021.
An independent economic analysis of the Esplanade Dining Precinct indicates the project will create 195 jobs and contribute almost $40 million to the local economy during construction.
The completed project is expected to deliver an ongoing benefit of $17 million each year to the economy and provide 149 fulltime jobs.