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Australia : PORT MACQUARIE'S Glasshouse persists to operate at a loss.

Port Macquarie's performing arts centre, the Glasshouse, is still making economic challenges for the local council and is yet to turn a profit.

The State Government dismissed the Port Macquarie Hastings Council in 2008, condemning it of mishandling the Glasshouse project, which ended up costing more than $40 million.

The Glasshouse is drawing top events and big crowds to the region, but is still does not generate any revenue for the council, said the current Port Macquarie-Hasting mayor Peter Besseling, We are working through a business plan at the moment internally.

He said, Obviously there are some challenges ahead to try and make it as profitable as possible. We are trying to make the most of what the Glasshouse provides from a commercial perspective.

The Glasshouse is unique in regional Australia, but is not likely to be profitable for a long time, said Cr Besseling, It is hoped the new business plan will help turn around the Glasshouse's financial situation.

He said, We need to work forward with this. This is something that's unique in regional Australia. We are trail blazing in terms of a large cultural asset that we need to turn into a profit at some stage. But it's not in the foreseeable future that that's going to occur.

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Publication:Mena Report
Geographic Code:8AUST
Date:Sep 30, 2014
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