Westpac Stadium generates $52 million a year for Wellington's economy

Wellington's Westpac Stadium has released the findings of a study outlining the economic impact and community contribution made by the stadium since it opened in 2000.

Contained in the 2014 Annual Report of the Wellington Regional Stadium Trust (commercially known as Westpac Stadium), the study from Wellington-based Business and Economic Research Limited (BERL) shows that nearly 7.8 million people have attended events at the stadium, generating $52 million annually to the Wellington region's economy, and creating 821 permanent fulltime jobs.

Of these visits, about 1.8 million were from people outside the Wellington region who spent an additional $885 million over the 15 years.

The annual report for the 2013/14 financial year shows that the Stadium recorded a net surplus of $2.24 million, down from just over $3 million in the previous year.

The landmark venue hosted more than 400,000 fans at the stadium for the 15th consecutive year as it enjoyed a record-equalling 51 major event days, and celebrated the opening of the new Mezzanine Lounge.

The annual report also shows that the Stadium had diversified its events away from sport, with 63,000 people attending concerts and events such as Armageddon, Beervana, the Home and Garden Show and The Food Show over the past year.

Commenting on the diversification, Wellington Regional Stadium Trust/Westpac Stadium Chief Executive Shane Harmon told The Dominion Post that the range of events helped spread risk and ensured there was "something for everybody" at the stadium.

Harmon also highlighted that Wellington's councils should at least consider partially funding major upgrades to Westpac Stadium based on its economic success.

Initial non-recourse loan funding to help build the stadium - $25 million from Greater Wellington Regional Council and $15 million from Wellington City Council - was provided on the basis that it would generate economic and community benefits for the region.

Harmon said there had been a "tremendous return" on that original investment.

Interviewed by The Dominion Post, Harmon stated "there is a strong argument for the city and the region to consider the stadium in its long term plans (as) stadiums do age quickly."

"It is very difficult for stadiums to make those seismic changes on their own. Absolutely they need support to get there."

A report looking at the feasibility and cost of upgrading the Westpac Stadium including installing a stadium roof and getting seats closer to the football field touchlines, is expected later in the year.

Click here to view the Westpac Stadium 2014 annual report.

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