Subsidies peaking at nearly $1 million a year will be offered to organisers of major Tauranga events in a bid to boost the city's economy.
The city council yesterday embarked on a new era of events funding, setting itself the short-term goal of growing the number of overnight stays by visitors to 79,000 by 2018.
Event organisers will be able to apply for funding assistance of $500,000 this year, rising in steps to $950,000 by 2021 and remaining at $950,000 for the rest of the council's 10-year plan.
It will lift total funding over the 10 years to $7.7 million, more than double the current figure of $325,000 a year.
Deputy Mayor Kelvin Clout said the new funding framework was linked to five key outcomes, including growing the region's gross domestic product, promoting events in the off-season and showcasing Tauranga.