Chief Minister Andrew Barr has conceded a new Canberra convention centre, if it is built, might bear little resemblance to plans released by the government this week.
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On Monday, Guida Moseley Brown Architects and Rome-based architect Massimiliano Fuksas were announced as winners of a competition to choose a preliminary design for a new convention centre on Canberra's City Hill.
The futuristic design, described as offering "poetic and sculptural treatment of architectural form", beat seven other proposals to win the competition.
Development of a business case will follow the release of the reference design.
On Tuesday Mr Barr said the eye-catching images would give only "a sense of the sort of building" that could be built one day.
The design has a price tag of between $500 million and $700 million and its release coincided with a Canberra Business Chamber and Canberra Convention Bureau-commissioned report about the significant returns a new centre would inject into the ACT economy.
The Australia Forum centre would deliver a "conservative" cost-benefit ratio of 2.4 over two decades, the report said, meaning for every dollar invested, $2.40 would go back into the territory economy.
The calculations behind the cost-benefit ratio, included in a report by Ernst and Young Australia, have not been released.
Mr Barr restated the government's position that it would not fund a new convention centre for Canberra. The business community and opposition have called for investment in the project.
"The government committed in the last budget and at the beginning of this parliamentary term to get the project to investment-ready status.
"Can I clear one thing up absolutely. It has never been, nor will it ever be, the intention of a government I lead to fully fund a convention centre ourselves."
Support and funding from business, the territory and federal government would be required to build an international-standard centre, Mr Barr said. The government would not "put a tin shed on City Hill".
The brief called for a "modern, inspiring" building with technology required in a global environment. The centre could eventually incorporate a plenary hall with capacity for 3000 people, exhibition halls, four halls of 2000 square metres each and capacity of 800 people and a large ballroom with space for 1800.
Other planned features include 18 meeting rooms, theatrettes and a "centre for dialogue" to host meetings "in the round" for up to 180 participants.
The report forecast benefits of $1.6 billion to the territory economy over 20 years and 3000 jobs during construction. Up to 1400 permanent jobs would also be created.
The report said additional territory tax revenue of $90 million could be generated over 20 years.
Mr Barr said transport infrastructure including light rail services and replacement car parking would be required. The site on City Hill, part of the National Capital Authority-controlled Parliamentary Triangle, is currently open-air car parking.
"It cannot proceed at that level, with that size, with that design, in that location, without federal government funding," he said. "It will also need private-sector support."
In a speech outlining the government's priorities for 2015, Mr Barr told the Legislative Assembly he would create a new position of Local Industry Advocate for the ACT.
The advocate will work with local industry to identify improvements to government procurement processes and to prepare an industry participation plan.
Consultation had begun to create tasks for the advocate, who will be recruited in coming months, he said.