Artists Arthur and Yvonne Boyd’s house, a gift to the nation on the NSW Shoalhaven River will gain a $30.6 million upgrade, with the Federal government to contribute $22m in tonight’s budget.

Known as The Bundanon Trust, the list of upgrades will include a new gallery, secure storage facilities for its $43m art collection, and will allow the property to become a major cultural destination on the NSW south coast.

Speaking to The Australian, federal arts Minister Mitch Fifield says the new funding will allow more people to see the collection and would also support jobs in the region.

“This funding will see Arthur and Yvonne Boyd’s vision of a unique cultural asset for the nation further developed through the creation of a dedicated gallery showcasing and safeguarding the priceless Bundanon collection,” says Fifield.

The scheme also encompasses a world-class creative learning centre for school students, a contemporary visitor hub, accommodation and cafe that will be housed within a new 140-metre-long by 9-metre-wide structure that at one end abuts the art gallery within the sloping hillside, continuing along to bridge an existing gully, and containing 34 bedrooms, teaching and dining space and public cafe.

Shoalhaven City Council’s Regional Economic Modelling indicates that the development will create 69 on-going jobs and bring an additional $10million in revenue annually to the Shoalhaven.

This federal funding is in addition to $8.6m already committed by the NSW state government.