If given the green light, the special rate variation is expected to raise $600,000 for new events in three years.

The increase has the support of the Tamworth Business Chamber on the proviso its conditions are met.

“Realistically I’m relying on the visionary leaders out there who see this is an investment into economic growth,” he said.

“This might get knocked back and there’s a strong chance, but I do believe people in the region particularly those business leaders that have invested in commercial premises will see this is about protection of economic growth in the region.”

Council approved the rate rise in March this year and will bring it to businesses for community consultation before its reviewed by the Independent Pricing and Regulatory Tribunal, to be established in the next financial year.

An independent events committee to ensure the funds are spent the right way, on new events that generate tourism from external visitors are requirements of the business chamber’s support.

The rate rise will cost businesses around an extra $100 each year, a cost council believes is reasonable mayor Col Murray said.

“We acknowledge some businesses won’t get the first cut of benefit but I would argue all businesses will get a benefit from this.”

The Tamworth Business Breakfast is on November 14 at 7am at the Ibis Hotel to explain the proposal, with other events to be held in Manilla and Barraba.

Businesses can also make submissions on the proposal at council’s website yourvoice.tamworth.nsw.gov.au.

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