Deputy Mayor Rob Soward has put forward a notice of motion in the City of Launceston’s agenda to consider an increase in funding support for the 2017 Launceston Cup.
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The Tasmanian Turf Club was allocated $3,100 due to budget restraints, but originally requested $20,00 from the council.
“It is believed that there was likely between 1,500 and 2,000 interstate visitors at this year’s Cup who, on average, spend more than $200 per day whilst in the state,” Ald Soward said in the agenda.
“A $20,000 investment for an event that generates conservatively over $3 million for the period [and] ... is a wise investment given the 150-1 return, that is for every dollar council contributes it generates $150 in our community directly and indirectly.”
A second item on the agenda could also lead to the Launceston Cup organisers receiving the funding requested, with updates set to be made to considerations of event sponsorship for events to be held in 2017.
If that item is approved in place of Ald Soward’s notice of motion, the Tasmanian Turf Club would receive an additional $11,900 for the 2017 Launceston Cup.