The $3.2 million in funding for "strategic planning" for the deal was re-affirmed in the budget papers, but similar deals put in place by the Morrison Government for other major regional centres are awash with cash.

Farrer MP Sussan Ley said preparatory work was critical to the deal's success.

"The regional deal for Albury-Wodonga was always the big ticket item for the tonight," she said.

"If this initial planning is done right, to then combine resources where sensible, then the potential for our region is as exciting as we want it to be."

She is adamant local businesses and industry need a seat at the decision-making table in the strategic planning phase.

The Albury-Wodonga deal, in part, is looking at "harmonising regulatory and governance barriers" faced by the two cities, but major infrastructure projects have to be agreed to by federal, state and local governments before their inclusion and leading to funding in future budgets.

Under the Townsville deal signed in 2016, the federal government has committed up to $380 million towards projects including $100 million for a North Queensland Stadium upgrade.to be completed in 2020.

It is the home ground of the Cowboys' NRL team.

Another $75 million has been spent on upgrading the Port of Townsville Channel to become a vital trading gateway in northern Australia.

The federal government has contributed nearly $200 million to a similar deal in Launceston.

One of its major projects is the relocation of the University of Tasmania's campus in the city worth $130 million and another $49 million is being spent on improving the health of the Tamar River.

Senator Bridget McKenzie announced the Albury-Wodonga deal in the lead-up to the budget which she described as further good news for Indi residents with the tax cuts announced.

She hinted at further announcements in the campaign.

"I know in my own portfolio there is another round of sporting infrastructure grants with $40 million available to look at projects to fund across Australia."