As much as $500,000 (£324,900) is to be invested in the north-east of Tasmania to create sustainable jobs and new opportunities in the area, which could interest those seeking to invest in property in Australia.
Brian Wightman, Labor member for Bass, said that this funding would support the goals of the North East Working Group.
This group was established to help deliver long-term solutions to economic challenges being faced by the north-east community.
It also aims to provide support for any workers who have been made redundant, so that they can increase their skill bases to secure new jobs.
David O'Byrne, Tasmania's minister for economic development, said: "There is no doubt that Tasmania faces some tough challenges but, together with local communities, those challenges can be overcome."
Earlier this month, Tasmania's government launched its state migration plan, which urges skilled workers from the UK and other countries to move to the state.
Posted by Steve Douglas