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Home / Hawkes Bay Today

Hastings council to bail out HOY

By Victoria White
Hawkes Bay Today·
19 Jul, 2016 04:48 AMQuick Read

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ON COURSE: Hastings council has agreed to shore-up the struggling Horse of the Year Show. PHOTO FILE

ON COURSE: Hastings council has agreed to shore-up the struggling Horse of the Year Show. PHOTO FILE

Hawke's Bay's Horse of the Year will receive nearly $300,000 from Hastings District Council.

In a council meeting today, councillors voted to give more financial support to what has become New Zealand's premier equestrian competition, after this year's event resulted in a loss of around $170,000.

An independent review requested by council found this was partly due to the transition from event managers Eventpro, to SMC Events last year.

Councillors voted to make a cash grant of $170,000 to Horse of the Year (Hawke's Bay) Ltd - which would provide the company with cash flow, and de-risk some of the event's cost.

Hastings mayor Lawrence Yule said the decision might not be supported by all in the community, but a one-off cost of $170,000 for an event which returned up to $12 million to the regional economy was an investment worth making.

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It was also agreed by the majority of councilors that council should increase their annual contribution to the HOY event to $120,000.

Several councilors said they believed the event had been underfunded in the past, and the council needed to support HOY to keep it in Hawke's Bay.

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