THE Ballarat railway precinct would be totally revamped under Labor, Opposition leader Daniel Andrews has promised.
He pledged $25 million over four years to fix up the derelict goods shed next to the station, turning it into a convention centre.
"This disused and sadly in disrepair goods shed will become a 3000-square-metre exhibition space, a convention space, a space that Ballarat doesn't have at the moment," said Mr Andrews.
"This will mean a brand new bus terminal, a new taxi rank, new parking facilities, new station facilities."
The announcement comes after the Coalition promised $5.3 million for the same precinct.
Mr Andrews said the first part of the money would come in a Labor government's 2015 budget, but would not detail the exact sum.
Under a plan devised by the City of Ballarat, business would also need to contribute up to $40 million to get the precinct up to scratch, and Mr Andrews said a four-star hotel would be a possibility once the initial four-year plan was finished.
"Once (the initial works) are done ... works will begin with council, the state government and the private sector towards the ultimate vision, which is a four-star hotel."
Mr Andrews said the site would be staffed with locals, estimating 140 jobs to come from the initial stages of the project.
However Liberal spokesperson Christabelle Adjoyan said the Napthine Government's plan to relocate VicRoads to Ballarat would be a more secure plan for local jobs.
"Only a Coalition Government will deliver 600 new and permanent jobs in the Ballarat region, through the relocation of VicRoads," she said.
Ms Adjoyan also said the Napthine Government had committed to improving the railway station through refurbished platforms and a public waiting area.