REVEALED: Yearly cost of Queensland’s big attractions including HOTA, Magic Millions
How much does it cost, year after year, to run an arts centre, a tourism group, or a national sporting team? We’ll tell you exactly how much. SEE THE FULL LIST
Gold Coast
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HOW much does it cost, year after year, to run a new arts centre or tourism promotional group — or even a national sporting team?
Annual reports show the Queensland Performing Arts in Brisbane costs about $60.9 million in expenses each year. Southbank Parklands cost slightly more at $63m.
Reports suggest a second Brisbane NRL team, to be competitive against the Broncos, would require $15m for start-up costs. The club must produce revenue of up to $30m to attract new fans and sponsors.
On the Gold Coast, the council is starting up its cultural precinct with the new art gallery to open on May 8.
A Bulletin special report has detailed the costings. Here are some comparisons:
HOME OF THE ARTS — total expenses of $20m a year and up to $32 million.
HOTA can expect to have total expenses of around $20m for 2021, according to council.
Forecasts for 2022 show an estimate of $32.6m.
HOTA depends on more than $15m from grants, with the rest a mix of merchandising, ticket sales and sponsorship.
To implement a Stage 1B art gallery, with the council chambers and versatile outdoor space, the cost is an estimated $35.4m.
The 2020-21 council annual report noted funding of $18.1m for ongoing management, renewal and maintenance of facilities. Fit-out to the gallery cost $6.7m and upgrades to the arts centre amounted to $1.6m.
GOLD COAST DESALINATION PLANT — up to $15m a year.
The operating costs of the $1.2b facility west of the Gold Coast Highway at Tugun has been long debated.
Production has been ramped up or down depending on demand, with the plant often put in standby mode.
Budget papers and a consultant’s report showed the plant in 2015 was costing $15m a year in standby mode and another $1.1m to fire it back up.
GOLD COAST TURF CLUB — $17.76m.
In its 2020 Annual Report, the club reported a $2.04m cash surplus, after revenue increased slightly to $18.89m.
Total expenditure before finance costs was $17.76m for the 2020 financial year.
Race revenue had fallen due the Commonwealth Games a year earlier.
DESTINATION GOLD COAST — $16.9m operating expenditure 2020
Gold Coast City Council pays $15.5m to Destination Gold Coast through the City Budget 2020-21.
The group’s net surplus for 2020 was $4.9m.
The independent, non-for-profit marketing organisation created in 1975 promotes the Coast as Australia’s top tourist destination.
Promotion and marketing expenses account for more than $14.1m out of a revenue stream totalling almost $22m.
STUDY GOLD COAST — $3.9m
The Coast education and training network began a funding agreement with the council in 2016.
Study Gold Coast relies on a $3.9 revenue stream, with $2.2m from the council. The annual surplus was about $382,000.
FULL DIGITAL ACCESS: JUST $1 FOR FIRST 28 DAYS
MAJOR EVENTS GOLD COAST — $9.3m from council.
Council’s annual plan 2020-21 shows City Hall contributed $9.3 million to Major Events Gold Coast.
The new organisation was created after the merging of the Surfers Paradise Alliance, Connecting Southern Gold Coast and Broadbeach Alliance in July last year.
At least $2.6m of a $10m-plus budget was deferred for 12 months due to the restrictions placed on events by COVID-19.
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