The program will help Flinders Island tap into the growing boating and yachting tourism sector.
Minister Colbeck said under the TDDI program the Turnbull Government is providing $43.1 million over four years to state and territories for their tourism infrastructure needs.
"Tourism has been recognised as a key economic super growth sector for the next decade, and this Government recognises the importance of investing in key drivers such as this project to ensure we realise its full potential," Minister Colbeck said.
"As part of the 2015-16 round of funding Tasmania will receive $775,000 which has been allocated to 16 projects. These projects will help the local tourism industry grow by supporting jobs and injecting much needed funds into local communities."
Nikolic said the grant will be used by the Flinders Council to develop a preliminary business case for the Marine Access and Safe Harbour Project on Flinders Island.
"A reliable and safe all-weather marine facility will be an enabler for the growing motor boat and yacht cruising tourism market," Nikolic said.
"Each year hundreds of yachtsmen and women sail to Tasmania, in races and cruising voyages, and this can only increase with better facilities.
"There are 52 islands between Wilsons Promontory, in Victoria, and Cape Portland, in Tasmania, which are a great attraction to visiting boaties and providing a safe harbour is crucial to growing this tourism sector.
"The Flinders Council wants to establish the island as the gateway for cruising boaties and I congratulate them on their vision and work to develop this tourism market," Nikolic said.
"I’d like to thank Minister Colbeck, for his support of this innovative project which has the potential to create jobs and growth on Flinders Island."
In Bass, a $42,000 grant for a master plan for Stage 2 of the Blue Derby Mountain Bike Trail project has already been announced as part of this program.
The Turnbull Government is also providing $4.38 million to boost Tasmania’s tourism industry through the Regional Tourism Infrastructure and Innovation Fund (RTIIF).
The Penny Royal redevelopment in Launceston received a $200,000 grant through RTIIF, the first to be announced in the electorate of Bass.