Bang for our event buck

at the centre of a statewide inquiry, soccer fans turned up to Kardinia Park in droves to watch A-League

But Victorian Cladding Taskforce co-chair and former premier Ted Baillieu, who has three seats in the Reg Hickey Stand, told 3AW’s Neil Mitchell THE Australian International Airshow has blasted the city towards a record $99.3 million economic windfall from major events, but support for the Archibald Prize and table tennis has given council the best value.

The figures from the Geelong Major Events committee’s annual report will be delivered at a council meeting tomorrow, representing a 53:1 return on $1.84 million investment in 25 events.

The windfall was an increase of $39 million on 2017-18, with much of it made up of the $28.9 million estimated economic benefit from the Avalon Airport-based Airshow.

But it was the unlikely 2018 Australian Open Table Tennis Championships that attracted the best bang for council’s buck. The City contributed just $10,000 — the least of 25 supported events — to the international competition for an economic benefit of more than $1.7 million.

The popular 2018 Archibald Prize had one of the most spectacular results, producing more than $8 million — more than the previous year — despite council slashing its investment in half.

The least beneficial event, according to the report, was the 2019 Ironman Geelong 70.3, which brought in a 19-fold return to slightly improve on the previous year’s return.

While the value improved for most of the 18 events returning from 2017-18, the rate of returns dropped for five of them, including Big Bash League matches.

The City enjoyed a 71:1 economic benefit from one Melbourne Renegades match at GMHBA Stadium in 2017-18, which dropped to 33:1 in 2018-19 after council more than doubled its spend to support an additional match.

A combined 850,000 participants and spectators attended across the 25 events, according to council figures. Geelong Mayor Bruce Harwood said it was a “very positive result” from what has become “an incredibly dynamic and varied calendar of events”.

Deputy Mayor Peter Murrihy, who chairs the Geelong Major Events Committee, said the results showed why the events space was a major focus.

“They show the remarkable economic value our pursuit and support of major events brings to the region,” he said.

“Major events are also great for our local community, offering family friendly entertainment and participation opportunities. Fourteen of the events provided some level of free public access, meaning they’re accessible to everyone.”

The results will be discussed at a council meeting being held at the Ocean Grove Surf Life Saving Club tomorrow.