Events Funding A Boost For Local Economy, Says Sykes
Economic development agency Whanganui & Partners says additional events funding from central government will provide a significant boost to the local economy.
On Tuesday, the Ministry of Business, Innovation and Employment (MBIE) confirmed the recipients of its $10m Domestic Events Fund. The fund is designed to support the events industry and its supply chain through the effects of COVID-19.
A regional panel covering the Western North Island including Jonathan Sykes and Paul Chaplow from Whanganui & Partners assisted MBIE through the process. Sykes says he is thrilled to see confirmation that three Whanganui events had been successful in their applications.
“Our summer is packed with great events that enhance the Whanganui brand and draw in new visitors. To have Cemetery Circuit, Vintage Weekend and the New Zealand Masters Games all receive this additional funding is a big endorsement of the impact these events have on our local economy,” Sykes said.
Sykes says half of the funding received must be used on advance payments to the suppliers that work with the events, ensuring the support flows into the business community.
“As we’ve seen with the recent changes in Alert Levels, the events industry is under pressure and people are working with a lot of uncertainty. The funding means that organisers and suppliers can act with more confidence, allowing them to focus their attention on delivering the event,” Sykes said.
The funding comes in addition to sponsorship and support from Whanganui & Partners.
“That the Domestic Events Fund was established by central government is an endorsement of the boost events deliver to local economies. It’s great to see them coming in behind the support Whanganui & Partners has already given these events.”
“These events and the others we support are all great for the community and add vibrancy to life in Whanganui, but the influx of visitors spending with our local businesses has the biggest economic impact,” Sykes said.