Council considers extra funding for America's Cup
19 September 2002
Council to consider extra funding for America's Cup
The Auckland City Council will be asked to approve an additional $370,500 for America’s Cup activities at its next meeting.
The allocation is for America’s Cup-specific civic activities to maximise Auckland City’s investment in the event and promote Auckland as a competitive city on the global stage. It also includes a financial contribution from Auckland City to the Ministry of Tourism’s America’s Cup Economic Impact Assessment.
The council’s Finance and Corporate Business Committee today recommended the council support the extra America’s Cup funding.
Committee chairperson, Councillor Douglas Armstrong, says Auckland is hosting one of the world’s greatest sporting events and there are “endless opportunities” to promote Auckland City.
“The last regatta generated nearly half a billion dollars for the Auckland regional economy and this year’s event promises even more. In light of this economic impact the proposed sum is not a large amount of money. Today’s decision reflects the council’s commitment to maximise ratepayers’ benefit from this year’s event. I have every confidence the council will approve the recommendation,” he says.
The chairpersons of the Strategy and Governance, and Recreation and Events, Committees, Councillors Mark Donnelly and Scott Milne, also signalled their support for the additional funding.
“The world’s eyes will soon be on Auckland and it is important we take advantage of every opportunity to promote our city. We welcome the many international visitors, including some of the world’s most influential business entrepreneurs. Together with our local partners the council will ensure every dollar spent by Auckland City on the America’s Cup is a positive investment in our city’s future,” Councillor Donnelly says.