SPENDING £60,000 on bringing a national cycling tour event back to Aberystwyth will boost the local economy and give the town and Ceredigion a publicity boost, council Cabinet members have heard.

Ceredigion County Council Cabinet members heard that Sweetspot, the organiser of the Pearl Izumi UK Tour Series, is keen to bring the event back to Aberystwyth for a ninth year, but that it will cost £60,000 to attract the event.

But despite making a series of service cuts and looking at ways to ease the authority’s stretched budget, a report that is due to go before the Cabinet tomorrow, recommends that the council agree to underwrite the cost of the event, with the report saying that, despite the cost of £60,000, it was estimated that the local economy benefitted by almost £300,000.

To be able to host the event in Aberystwyth next year, the council must confirm by the end of this month that it will fund the event.

The Cabinet report said it was hoped that sponsorship could be found and that in future the controversial Aberystwyth Business Improvement District scheme could provide financial assistance.

The report says: "Should the council agree to host the event, contributions from the business sector and other public bodies towards the total cost will be sought.

“Aberystwyth University, Aberystwyth Town Council and Cambrian Tyres have already been approached with regard to contributions towards the cost of staging the event. Tesco, M&S and Premier Inn will also be approached.”

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