The Canberra Convention Bureau has welcomed the ACT Government’s decision to increase funding for the local convention and business events industry by $1 million over the next three years.

This funding is in addition to the Bureau’s annual $1 million funding provided by the ACT Government.

Chairman of the Bureau’s Board, Steve Gower, said the announcement came at a time when the industry is attracting an increasing amount of new business to Canberra.

“We’ve had great success over the past few years attracting more business events to Canberra using the networks, expertise and proficiency of the many national institutions and universities located in the city” said Gower. “The Bureau has worked closely with their group, the Research and Learning Institute Group (RALIG) to attract new conferences and exhibitions to the nation’s capital.”

Gower said he was pleased to welcome ANU Vice Chancellor Ian Young as a member of the Bureau’s Board and looked forward to his input.

Bureau CEO Robyn Hendry also welcomed the increase in funding.

“The business events industry contributes $990 million per annum to the local economy. With increased support and funding for industry activities, we expect to increase this contribution.” said Hendry.

“The Canberra business sector has continued to make private investments to improve Canberra’s infrastructure, such as the new airport terminal and high quality hotels. These improvements are undoubtedly improving the attractiveness of Canberra as a conference destination.

“The ACT Government’s funding increase is a timely acknowledgment of the increasing strength of this important sector to the Canberra economy.”

She went on to say “since 1 July 2010 the Bureau has booked 192 events for the region, reflecting the growing strength of the local business events market to attract conferences and exhibitions. The average economic value of Bureau bid wins has increased since 08/09 from $461,000 per bid to $650,000 per bid in 10/11.”