Cootamundra-Gundagai Regional Council's masterplan is a long-term project to be rolled out in stages, with the end goal being a large tourism precinct with shops, markets, hotels, camping sites, and green spaces.

The entire precinct will revolve around the Dog on the Tuckerbox, which will take the spot of honour in the centre, right next to a sprawling courtyard.

Councillor Penny Nicholson, who is part of the planning process, said the dog statue was precious to the townsfolk, which is why they wanted it front and centre of their new precinct.

"It's a huge part of our history and our culture, and we're very precious and protective of it because that's our heritage," Ms Nicholson said.

"To me, it looks like a terrific plan and very exciting for the community, knowing that that area out there is going to be treated respectfully and advanced."

Melissa and Rose Misevic, the sisters who run the current Dog on the Tuckerbox Lolly Shop and Cafe, have been promised a retail space within the new precinct.

Cr Nicholson said there were no solid timeframes for the development yet, however once the plans are approved the construction process is expected to take roughly two years.

The draft plans are on display at the council website until May 11, with a drop-in information session scheduled for this Friday with the developers and the architects.

COX Architecture director Chris Millman said the statue was an iconic piece of Australiana, which would no doubt make it a tourism magnet post-lockdown.

"The Dog on the Tuckerbox is a classic story of true Australian mateship, but also how regional communities doing it tough can battle back to find new ways of attracting visitors and investment," Mr Millman said.

"As we emerge from COVID-19 and the 2019/20 bush fires, we've seen a renewed enthusiasm for the great Australian road trip with more people choosing to visit our wonderful destinations in regional areas.

"The Hume Highway has always been a key route for these travellers and the 'Dog' is one of the most popular stopping points between Sydney and Melbourne."

Development consultant Ethos Urban's Stefan Meissner said they were going for a "paddock to plate" experience to lure in tourists.

"We want to provide visitors with great food and dining that brings in the best of local produce, straight from the farm and paddock. This way it will be healthier for them, healthier for the environment because we'll be cutting down on food miles and healthier for the local economy," Mr Meissner said.

"There's an opportunity here to create a new gateway for the Riverina region that acts as a destination in itself and attracts people - which means more jobs and more investment for the area."

Mayor Abb McAlister said the project would be a much-needed boost for the Gundagai economy.

"The revitalisation of this site presents a great opportunity to make a substantial investment in our community through the creation of new jobs and revamping of a popular tourist attraction in the Gundagai area.

"For many years, Council has recognised the important role the Dog on the Tuckerbox plays in our community but have not had the financial capacity to reinvest the necessary infrastructure to bring it back to life."

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