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MCEC delivers economic boost

11 Aug 2016

MCEC delivers economic boost Image

By Rhianna Busler

For the fourth consecutive year, the Melbourne Convention and Exhibition Centre’s (MCEC) end of financial year figures have exceeded expectations and delivered a major boost to the Victorian economy.

Having recorded substantial growth revenue of $77 million over the past year, the South Wharf destination has contributed close to $1 billion of economic impact to the state’s economy.

MCEC Trust chairman Bob Annells said the encouraging financial results, along with the commencement of the venue’s much-anticipated expansion, highlighted a bright and thriving future for MCEC.

“The people of Victoria should be very proud of MCEC, the financial contribution its existence makes to the Victorian economy and the wonderful community asset it continues to be,” he said.

Results from Ernst & Young show an increase of 17.4 per cent on financial year 2014-15. Some 980 events were staged at MCEC in 2015-16, including 86 national and international conventions and 78 exhibitions that drew more than 849,677 business event visitors through the venue’s doors.

MCEC chief executive Peter King said: “The professionalism, maturity and capability that we have within MCEC to innovate, adapt and create opportunities for our customers underpins this extraordinary result.”

A key driver in the future growth of MCEC will be the completion of the venue’s expansion set to be finished in early 2018.

Building works started in June 2016 and will increase MCEC’s total size to more than 70,000 sqm, creating more space for new exhibitions and entertainment, while promoting growth of existing events.

“We are building to increase our flexibility and to offer even more spaces in which events will be delivered to the same professional MCEC standards,” Mr King said.

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