The Ministry of Business, Innovation and Employment announced today that 200 events across New Zealand are sharing a cash-injection of just under $10 million from the Domestic Events Fund.
Large parts of the events industry, including the critical supply chain, continue to experience COVID-19 related impacts due to reductions in sponsorship and trust funding, and Alert Level restrictions on gatherings. In response, the Government announced the establishment of a Domestic Events Fund in Budget 2020.
"One of the goals of the fund was to get cash flow to the sector as quickly as possible. We are, therefore, pleased to announce that 200 events and their suppliers across New Zealand will be supported through this fund. Half of the funding going to the events will be passed on as early payments to the critical event supply chain, ensuring support reaches beyond event organisers," says general manager Tourism, Ministry of Business, Innovation and Employment Iain Cossar.
"Events are important at a community, regional and national level, providing both economic and social benefits and giving New Zealanders the opportunity to learn and experience new things. By helping more events stay viable, we ensure that events are available to New Zealanders both now and in the future.
"Local government and business events colleagues were instrumental in helping us roll out the fund. They provided extensive regional insights that supported our decision making and we are extremely grateful for their time and input.
"We know it has been, and remains, a challenging time for the industry. It is a credit to the sector that the applications demonstrated resilience, agility, and initiative, particularly regarding rescaling. However, some events, despite their best efforts, still faced significant financial challenges making delivery impossible, and it is these events that the fund was always intended to support.
"Having now completed this process we believe the Domestic Events Fund and other targeted regional support, along with the sector’s own initiatives, will allow events in New Zealand to endure through this challenging time," says Iain.