Touchpoint Group Holdings’ Air Race World Championship Set to Take Lake Macquarie to New Heights

Rhea-AI Summary

The NSW Government has allocated $2.5 million from the Regional Events Acceleration Fund to host the Air Race World Championship in Lake Macquarie from November 18-20, 2022. This high-speed event will feature elite pilots, including local champion Matt Hall, and is anticipated to attract thousands of spectators, generating over $8 million for the local economy. The Air Race series has held 94 races globally, drawing more than 24 million viewers. The Deputy Premier emphasized the event's role in boosting tourism and regional economic recovery.

Positive

• Anticipated economic impact of over $8 million for Lake Macquarie.
• Expected to attract thousands of spectators, enhancing regional tourism.
• Features world-class pilots and entertainment, increasing visibility for the region.

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• None.

MIAMI, April 13, 2022 (GLOBE NEWSWIRE) -- The sky over Lake Macquarie will soon be filled with some of the world’s best pilots, racing at speeds of over 400 kilometres per hour, and demonstrating serious precision flying thanks to the NSW Government’s Regional Events Acceleration Fund.

Parliamentary Secretary for the Hunter Taylor Martin said $2.5 million in funding would allow the Air Race World Championship to host the high-octane aviation event in the Lake Macquarie region, putting the area on the international stage.

“This will be a fantastic event and a great opportunity for locals to get out and see some of the best pilots in the world compete against the clock, racing through inflatable airgates at more than 400 kilometres per hour,” Mr Martin said.

“One of those pilots is the Lake Macquarie local and reigning world champion Matt Hall, who will be competing in front of a home crowd.

“The Air Race series has held 94 races in 21 countries, attracting more than 24 million viewers, and the Lake Macquarie event is expected to attract thousands of spectators and contribute more than $8 million into the local economy.

“The event will also feature world-class entertainment, with live open-air concerts from high profile musicians and performers.”

Lake Macquarie Mayor Kay Fraser said the event would bring significant economic benefit to local businesses as well as putting the region on the world stage.

“We are so excited to be hosting the Air Race World Championship in Lake Macquarie. This is a global event that will showcase our city and lake to the world and bring significant economic benefit to local businesses,” Cr Fraser said.

Josh Sattler, CEO of Dantia, Lake Macquarie’s economic development organisation, said, “The event will open commercial and tourism opportunities for the city.”

Deputy Premier and Minister for Regional NSW Paul Toole said the Regional Events Acceleration Fund is supporting the growth of existing regional events and attracting new major domestic and international events to regional NSW.

“We are serious about driving investment and tourism in our regions – and the Regional Events Acceleration Fund will bolster demand for accommodation, fill restaurants and cafés, and help drive regional NSW’s economic recovery from bushfire, floods, drought, COVID-19 and the current flooding crisis,” Mr Toole said. “The fund has already supported more than 80 events which are expected to attract one million visitors to the regions, laying the foundations for a strong recovery across regional NSW.

“Helping organisers host world-class events in their own backyard showcases our great regional towns to national and international audiences.”

The Air Race World Championship, owned and operated by Touchpoint Group Holdings, Inc. (OTCQB: TGHI), will be held in Lake Macquarie from 18 – 20 November 2022.

The $40 million Regional Events Acceleration Fund is part of the $2 billion Regional Growth Fund, designed to support growing regional centres, activate local economies and improve services and community infrastructure for regional communities.

Applications for Round Two of the Regional Events Acceleration Fund are now open and close 5pm Tuesday, October 4, 2022.

Photographs and video from today’s announcement will be available for download from 2pm at the following link: https://lakemac.mediavalet.com/portals/air_race

For further information, including program guidelines and eligibility criteria, go to www.nsw.gov.au/REAFund.

MEDIA: Todd Kirby 0450669393

FAQ

What is the Air Race World Championship event in Lake Macquarie?

The Air Race World Championship is a high-speed aviation event featuring elite pilots racing at over 400 km/h, set to take place in Lake Macquarie from November 18-20, 2022.

How much funding has the NSW Government provided for the Air Race event?

The NSW Government has allocated $2.5 million from the Regional Events Acceleration Fund to support the Air Race World Championship.

What economic benefits are expected from the Air Race in Lake Macquarie?

The event is projected to generate over $8 million for the local economy by attracting thousands of spectators and enhancing tourism.

Who are some of the pilots participating in the Air Race World Championship?

Local pilot Matt Hall, a reigning world champion, will compete in the Air Race World Championship in front of a home crowd.

When will the Air Race World Championship take place?

The Air Race World Championship will be held in Lake Macquarie from November 18 to November 20, 2022.