THE Far North Queensland economy gains an estimated $1.2million from the Mount Franklin Cardiac Challenge each year, it has been revealed.
Just weeks out from the 2015 event, local economist Bill Cummings has released his economic assessment of the fundraising bike ride from Cairns to Cooktown.
Far North Queensland Hospital Foundation CEO Tony Franz said organisers always knew the ride had medical benefits, having contributed more than $2 million to cardiac services during the past nine years.
“But to see the cold hard facts about how it actually provides a flow-on effect through the economy was a very pleasant surprise,” Mr Franz said.
Mr Cummings’ economic assessment, based on 2014 figures, indicated $111, 000 was spent staging the event, $362, 000 was raised for cardiac services, $366, 000 was spent by riders and supporters on buying cycling equipment and supporting the communities they pass through along the way; and he calculated a flow-on effect of $447, 000.
“Having been a local, I have long supported this event, but until I sat down and looked at the figures, I didn’t realise quite how much it benefited the local economy, not just in the field of buying medical equipment,” Mr Cummings said.
His calculations are based on a 2014 participant survey.
Riders are hard at work training and fundraising for the 2015 event, which departs Cairns on September 19 and arrives in Cooktown on September 21. Every year up to 350 riders raise up to $350, 000.
“Every cent donated to the Foundation goes to its intended purpose and stays local, so it’s great to see the local community supporting the event that supports them,” Mr Franz said.
Funds raised from the Mount Franklin Cardiac Challenge bike ride go towards providing equipment at the cardiac unit at Cairns Hospital. Since it started nine years ago, more than $2 million has been raised, contributing items such as an echocardiography (ultrasound) system for young patients, a portable echocardiography system for young patients and two intra-aortic balloon pumps.
Cardiac Challenge is supported by the Queensland Government through Tourism and Events Queensland as part of a dynamic calendar of events throughout the state.
PHOTO: Bill Cummings and Tony Franz discuss the economic report, while Pete McNally and Judi Phillips look on.
For further information, to donate or volunteer for the Foundation visit www.cardiacchallenge.com.au
