General News
18 December, 2024
EXCLUSIVE: Council to contribute $1m to rodeo after $2m govt deal
The council has been awarded $2 million to add to the Mount Isa Transition Fund and will offer $1 million to Isa Rodeo Ltd.
The Mount Isa Rodeo is poised to go ahead in 2025 after the state government committed $2 million to the Mount Isa City Council to help save the iconic event.
The decision will be announced by Tourism Minister Andrew Powell in Mount Isa tomorrow morning.
Mayor Peta MacRae said the council would allocate $1 million towards Isa Rodeo Ltd, helping to reduce the debt owed to creditors, while the rest of the funding would go towards “key economic development activities”.
Deputy Premier Jarrod Bleijie said the government had boosted the Mount Isa Transition Fund to the council to allow it to determine the best way to ensure the ongoing viability of the Mount Isa Rodeo.
“The Mount Isa Rodeo is a mecca for tourism across not only the state, but the country and globe,’’ he said.
“It is an event that attracts around 25,000 attendees, including visitors to the region, stimulating the local economy and supporting local jobs.
“The community is passionate about what it brings to the region, and frankly, so is this government.”
Cr MacRae said she was confident this would mean the rodeo would go ahead next year.
The mayor thanked the state government for its foresight and commitment to Mount Isa.
“Council believes it is incredibly important that there is a future for the Mount Isa rodeo going forward,” she said.
“Rodeos are a large part of Mount Isa’s DNA, and we are committed to having a long-term event that will provide enormous economic returns for the town and the region as a whole.
“The council understands that this may not cover all debts that are owing to creditors but would be hoping that the receiver will be able to pay the majority of the funds owed in accordance with the legal statutes defining this process.
“It is not the fault of our ratepayers that this situation has occurred. We want to keep $1 million to go towards economic development to help us recover from the copper mine closure that will occur mid next year.
“The council committed not to spend ratepayers money to bail out the previous board of the Mount Isa rodeo, however as the state was forthcoming with the funding, this provided an opportunity to relieve the businesses who are burdened with unpaid debts.”
The last creditors report issued by SV Partners indicated that Isa Rodeo Ltd had a shortfall of just over $1 million, although that did not take into account additional costs incurred by the administrator, believed to be more than six figures.
The council’s offer could leave a tough decision for the creditors, who would likely have to vote to receive less than the full amount owed to them by Isa Rodeo Ltd.
Member for Traeger Robbie Katter backed the council for its stance and praised the new LNP government for its support of Mount Isa and the rodeo.
“I think it’s great for the government to recognise the autonomy of the rodeo needs to be local,” he said.
“We don’t need outside consultants and advisers to successfully take the rodeo forward and I’m glad the government has shown that insight and backed the council and the community to lead the way.
“There’s a long-held view from outsiders that we couldn’t run the rodeo by ourselves and that’s been insulting to the many volunteers who have poured a lot of sweat into the event over 50-plus years.”
Mr Katter said it was important to take the event off SV Partners as soon as possible.
“Getting a local board put in place and assuming control from Mount Isa is a priority,” he said.
“The Mount Isa Rodeo is a great Australian event and a lot of other events around Queensland have received greater government support for contributing far less.”
Mr Powell, who is flying into Mount Isa for a tourism roundtable, said the Mount Isa Rodeo was a critical event for the region.
“Tourism is an important industry in the north-west of our state and there is no bigger drawcard for Mount Isa than its famous rodeo,” he said in a statement.
“As well as the economic benefits that the rodeo provides the city and the region, these kinds of events are an important opportunity for the Mount Isa community, friends, families and visitors to come together, creating community pride and connection.”