TREASURER Curtis Pitt has flown to Townsville today to announce the State Government’s new stadium comittment of an additional $40 million.

Flanked by local MPs Scott Stewart, Coralee O’Rourke and Aaron Harper, Mr Pitt was also joined by Mayor Jenny Hill, Cowboys CEO Greg Tonner and Cowboys co-captain Johnathan Thurston.

Mr Pitt said Townsville’s economy had been struggling with the resources downturn, with the collapse of Queensland Nickel providing extra incentive to see the project underway.

“We think (for Townsville) this is the most important thing we can do as a government right now and that’s why we’ve allocated this additional funding.”

PREVIOUSLY

TOWNSVILLE’s marathon quest for a CBD football stadium will today take a massive step forward with the State Government, the Cowboys and the NRL pledging a further $50 million towards the city-defining project.

Queensland Treasurer Curtis Pitt will join Cowboys co-captain Johnathan Thurston and local state ALP MPs in Townsville to announce the crucial breakthrough.

Under the new funding plan, the State Government will increase its contribution to $140 million.

The Cowboys will contribute $10 million by taking out a loan and paying upfront 10 years rent for their use of the arena.

The NRL will help underwrite the commitment by agreeing to fund interest payments on the loan.

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