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New $10 million fund established for domestic events sector

This funding from Budget 2020 follows talks with the event sector designed to develop a joint strategy for the event sector’s survival and growth.

Devdiscourse News Desk | Wellington | Updated: 01-07-2020 14:15 IST | Created: 01-07-2020 14:15 IST
New $10 million fund established for domestic events sector
Phil Twyford says the events sector is important to New Zealanders and the country, raising the profile of our trade, culture, sports and arts. Image Credit: Wikimedia

The Government has established a new $10 million fund for the domestic events sector to help save jobs and protect incomes as it recovers from the impacts of COVID-19, Minister of Economic Development Phil Twyford announced today.

This funding from Budget 2020 follows talks with the event sector designed to develop a joint strategy for the event sector's survival and growth.

Phil Twyford says the events sector is important to New Zealanders and the country, raising the profile of our trade, culture, sports and arts. "The events this sector delivers are fundamental to building national pride and showcasing the best that New Zealand has to offer.

"The purpose of the Domestic Events Fund is to stave off the loss of critical events which contribute to regional economies, and that without support may never return. By saving these events, jobs and the income of sector employees, contractors and freelancers will be protected.

"This fund won't save every event, but it aims to support those events that provide the greatest flow-on benefit to regional economies. It has been set up to provide cash-flow within the sector.

"On top of this, sector workers have been able to access the Government's wage subsidy, which has paid out more than $12 billion, and many will benefit directly and indirectly from the $70 million Creative Arts Recovery and Employment Fund to support rebuilding the creative industries, and the $60 million Cultural Innovation Fund to encourage investment and new thinking in the cultural and creative sectors," Phil Twyford said.

To be eligible for the Domestic Events Fund, events must be:

Existing events that are considered regionally or nationally significant, where support is needed to be able to sustainably re-start or re-scale the event, or

Where supporting the event will help retain sector-critical event organisers and suppliers for the long-term viability of the industry.

(With Inputs from New Zealand Government Press Release)


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