The agenda released today for council’s Strategy and Finance committee meeting on Thursday 5 July recommends that the race, considered a ‘significant economic anchor event’ should be supported by council by way of an annual $2.1 million investment.
“With the generation of around 50,000 visitor nights and a return on investment estimated at more than $7 million, I am confident that councillors will give their backing to the proposal,” says Mayor Len Brown.
The proposal does not require any new funding as council’s contribution would be met by the Auckland Tourism, Events and Economic Development (ATEED) Major Events Fund. The decision will also be conditional on V8 Supercars Australia Pty Ltd (V8SCA) delivering the event, alongside a matched capital contribution by the Ministry of Economic Development and agreement with the Counties Racing Club.
The event, proposed to take place from April 2013, would also bring wider economic and social benefits, particularly to Pukekohe. As part of the planning agreement, ATEED will be tasked with maximising opportunities through schools and business engagement programmes as well as leveraging greater economic benefits to the greater Auckland region.
"This would be a fantastic event for Pukekohe and provide huge economic opportunities for our community. I'm particularly keen to look at ways to further enhance the benefits locally, such as operating a 'fan trail' between Pukekohe Train Station and the raceway," says Franklin Local Board Chair Andy Baker.
“Over the course of the proposed five-year tenure of the event, the V8s would bring significant economic investment into the Franklin ward,” says Franklin Councillor Des Morrison.
“Of the options on the table, we’re geared up for the V8s, so with a few upgrades to Pukekohe Park this would be a truly international motorsport event, drawing global exposure, right in our own back yard.”