About the precinct

The science of success: The Tasmanian Innovation Network

As technology rapidly evolves, so do the jobs of the future and the needs of our society.

To increase educational attainment, facilitate innovation, drive economic growth, and improve regional productivity, STEM must be a central focus for Tasmania.

The new Tasmanian Innovation Network (TasSTEM) will be a catalyst for positive change in Tasmania, creating a network of built-for-purpose facilities, expertise, and innovation, to position Tasmania as a leader in STEM.

TasSTEM consists of the proposed new Science and Technology Precinct in Hobart, and nodes in Inveresk and Newnham in Launceston, and West Park in Burnie.

TasSTEM will bring science to the forefront of Tasmania’s economic growth goals, generate employment, and place education and innovation as central to the prosperity of our state, while bringing new life and energy to the hearts of our cities.

The teaching and research carried out at the proposed new world-class, purpose-built Hobart facility will make Tasmania a key player in STEM research worldwide, and give our young people, and the broader community, excellent educational opportunities.

The critical mass of research expertise will not only encourage innovation and collaboration, it will give Tasmanian businesses access to world-class knowledge, while stimulating economic growth and partnerships.  

TasSTEM is an investment in our young people, our businesses, and our state.

Key benefits of the Tasmanian Innovation Network

  • Job creation for Tasmanians
  • Improving regional productivity
  • Increasing educational attainment
  • Driving innovation and economic growth

Where will the Hobart Flagship Science and Technology Precinct be located?

Construction of the Hobart Flagship Science and Technology Precinct is proposed on a 6,700 m2 site recently purchased by the University in the Hobart CBD between Elizabeth Street, Melville Street, Argyle Street, and Bathurst Street. At an estimated cost of $340 million, the new building will be at least seven stories with basement parking, providing 40,000 m2 of new, fit-for-purpose, world-class STEM research and teaching facilities.

Who will study and work there?

The Precinct will house approximately 700 people, including 200 academic staff, 300 postdoctoral and research assistants, more than 200 PhD students, and support staff. Teaching will be delivered to more than 4,000 students. The development will be in close proximity to the city’s major medical care, research and training centres. The proposal represents stage one of the University’s two-stage, 10-year iconic science infrastructure development for the Hobart CBD which will provide modern, fit-for-purpose facilities designed to attract more local, national and international students.

What are the jobs benefits of the Precinct?

The Hobart Flagship Science and Technology Precinct is predicted to provide an immediate productivity boost in employment of 3,420 construction related jobs over the construction period, with an estimated economic impact through the construction stage of $1.2 billion. When fully operational the facility will support approximately 100 additional teaching and research academic staff, requiring the support of additional research and professional staff.

What are the economic benefits of the Precinct?

The ongoing direct economic impact of the precinct will be approximately $135 million per annum, providing a significant flow-on effect in the community. Each dollar of research income at the University of Tasmania is estimated to increase Tasmania’s economic output by about $1.60 and Australia’s overall economic output by about $4.80.