Federal, state and local governments have come together to sign a $551 million Adelaide City Deal.

The 10-year agreement will see funding splashed across the city for a range of infrastructure and technology projects.

Prime Minister Scott Morrison, Premier Steven Marshall and Lord Mayor Sandy Verschoor signed the deal in Adelaide on Tuesday.

“The big challenge we have to manage is how we manage population growth,” he told reporters.

“The cities deal ... is about investing in the cultural life of the city, in the arts precinct [and] recognising the tremendous living indigenous culture that is so alive and so celebrated here in South Australia.”

Much of the deal involves the city's Lot Fourteen innovation precinct, which will host the Australian Space Agency and other cultural site, tech businesses and education facilities.

Smart parking meters and CCTV are on the way for the CBD, as are investments in tourism projects like the Heysens Gallery at Hahndorf.

Mr Morrison also announced upgrades for two local intersections.

State and federal governments will put in $30.5 million to upgrade the Cross Rd and Fullarton Rd intersection, and $49 million for the widening of Portrush Rd on approach to the Magill Rd intersection.

Mr Marshall said it will transform South Australia.

“[The funding] will really create great economic activity, increase visitation, increase international students and, of course, bust some of the congestion on our roads,” he said.