THE City of Ballarat is pushing a major exhibition space as the real “gold mine” to underpin its bid to redevelop Eureka Stadium into a major events and sporting precinct.Economic modelling done by the council indicate the proposal to develop a 3000 square metre covered exhibition space at the showgrounds site adjoining the North Ballarat oval, would potentially inject millions of dollars annually into the local economy. City of Ballarat chief executive Anthony Schinck said a major events centre would ensure the economic sustainability of the project and continue to return on an $80 million investment proposed for its 2010 precinct plan. Mr Schinck said a purpose-built centre with convention facilities would attract a range of events such as conferences, expos and trade shows, ensuring the precinct attracted regular activity – particularly as a redeveloped Eureka Stadium would only attract visitors sporadically, even if it won the right to host AFL games.The council plan also highlights an existing demand for more than 40 events per year, with the potential to attract further events.The modeling indicates each overnight visitor contributes an average of $231 in direct and indirect economic input from these events, with even greater returns possible from post-event tourism and return visitation. The council also highlighted the lost opportunities the lack of a facility presented to Ballarat, especially given its increasing status as the capital of western Victoria. “In the past, Ballarat has been overlooked for conferences and large events due to the fact that it does not have a purpose-built exhibition centre of this type,’’ Mr Schinck said The Bendigo Exhibition Centre, constructed as part of the Prince of Wales showgrounds in 2005, was built for $4.27 million and attracted more than 120,000 visitors in its first year alone, securing large-scale events such as the Sheep and Wool Show and the National Homemaker Expo . Like the Bendigo project, the council will also look toward state and federal government – particularly regional development support – to see the proposal funded. Ballarat Agricultural and Pastoral Society director Gerard Ballinger was also enthusiastic about the redevelopment and the opportunities it offered both for the Ballarat show and for wider utilisation of the Creswick Road site. “The whole push is to look to the future,” Mr Ballinger said “The Melbourne Showgrounds went through a $100 million upgrade and their show has stayed enormously popular and the same would apply here. It would be a win-win for the whole community; not only would we hold the show but there would be the opportunity for a host of the bigger events that would have great economic benefit for the rest of the community.”