Covered stadium benefit lauded

The economic benefit of Forsyth Barr Stadium has exceeded the Dunedin City Council’s contribution, it has been revealed.

In the six years since the covered stadium opened, it has pumped an estimated $165 million into the city, according to Dunedin Venues Management Limited (DVML) — the company managing the facility.

That included spending by visitors on accommodation, hospitality and tourist activities.

The stadium’s success comes as Christchurch pushes for a covered stadium to replace its earthquakedamaged predecessor.

The $165m in estimated economic impact was derived from 30 major events held since Forsyth Barr Stadium opened on August 5, 2011, in time for the Rugby World Cup. Events included concerts by Elton John, Paul Simon and Fleetwood Mac, as well as national and international sporting events.

More than 27,000 attended the Lions versus Highlanders match at the Dunedin stadium on Tuesday. The venue will host three Ed Sheeran concerts next year.

Those concerts were expected to help drive another $50m into the city over the next year.

A 2012 PwC report stated stadium funding from the Dunedin City Council, from all sources, cost $162.7m.

That same report estimated the overall cost of the stadium to be $227m, with the Otago Regional Council contributing $37.5m, the Government $15m and the Otago Community Trust $7m.

Malcolm Farry, of The Carisbrook Stadium Charitable Trust, said the trust was delighted by the stadium’s contribution to the city.

‘‘The stadium was produced on time, on budget and fit for purpose and the results have exceeded the expectations of most Dunedin citizens and of the wider New Zealand community.’’

Council chief executive Sue Bidrose said the result showed the city ‘‘capitalised on the advantage of having the world’s only fully roofed, natural turf stadium’’.

The Lions versus Highlanders match delivered ‘‘a boon for retailers and accommodation providers across the city yet again’’.

Dunedin Mayor Dave Cull, who opposed the stadium as a councillor, said ‘‘despite reservations some of us had about the debt this would leave us with, it is gratifying the economic benefit is so strong’’.

Terry Davies, of DVML, said the company was proud to have created ‘‘this substantial economic benefit to the city’’.

About 60 to 70 per cent of concert tickets were sold to people outside of Dunedin. The venue had positioned itself with Auckland to host large concerts.

‘‘We look forward to bringing more events to the city that locals and visitors alike can enjoy and the city can benefit from,’’ Davies said.