Economic development

Plan for the future

Devonport has a diversified economy based on the foundation sectors of retail trade, health care and social services, manufacturing, and freight and logistics management. 

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In 2014, Council adopted the LIVING CITY Masterplan.  LIVING CITY is the largest urban renewal project ever undertaken in regional Tasmania. 

With stages 1 and 2 now complete, LIVING CITY is now providing unique opportunities for Devonport particularly in the tourism, arts, food and services sectors.    

Recent successes of the LIVING CITY Masterplan include:

  • a new 180 room Novotel Hotel;
  • an 800 seat conference centre;
  • an integrated arts centre;
  • a food and beverage pavilion;
  • a multi-storey carpark;
  • a new carpark in the southern CBD;
  • a new community parkland.

Devonport is thriving.  It is currently:  

  • The Retail and Service Centre for Regional population of 70,000.
  • The Busiest Freight Port in Tasmania, handling more than 50% of the islands trade.  Existing daily freight ships to the mainland.    
  • Tasmania’s only passenger port.  Welcoming 450,000 passengers every year.  New ships will increase capacity by an additional 160,000 passengers annually from 2024.  
  • Home to Devonport Airport with 12 commercial flights (Qantas/Rex) daily between Devonport and Victoria for passengers and freight.
  • Thriving economically with a regional GDP of $3,540M.
  • Growing, with the population having increased by 7% over the past 5 years.