Queenstown's iconic bungy firm AJ Hackett will receive more than $10 million in funding from the Government.

Tourism Minister Kelvin Davis announced this afternoon that the company will receive Covid-19 recovery support as part of the $400 million Tourism Sector Recovery Package aimed at securing jobs and boosting businesses.

The $10.2 million of funding will be divided into a grant of $5.1 million in the first year, with a loan of up to $5.1 million in the second year, if required, through the Strategic Tourism Assets Protection Programme. 

It's more than double the amount granted to any other commercial tourism operator so far.

“By supporting AJ Hackett Bungy, we’re protecting a world-famous tourism asset as well as the flow-on benefits that an iconic tourism attraction brings to a local community,” Kelvin Davis said.

“AJ Hackett Bungy has been giving thrill-seekers exhilarating experiences for more than 30 years. With our borders closed to protect us from COVID-19, the downturn in visitor numbers is felt far and wide, not only by the operator but also by other local businesses who cater to visitors through accommodation, hospitality and retail.”

AJ Hackett Bungy New Zealand will use the funding to retain its highly skilled workforce, in particular the specialist Jumpmaster roles which take three to four years to train.

The company pioneered bungy in New Zealand and the world, beginning in 1988.

It now operates across six sites in Queenstown, Auckland and Taupo offering 13 experiences – including bungy, giant swings, bridge climbs, ziprides and catapults.

Davis adds: “We’re committed to the tourism industry’s recovery, which is why our $400 million Tourism Sector Recovery Package is so important."

The Strategic Tourism Assets Protections Programme is designed to protect assets in the tourism sector that are nationally or regionally vital to New Zealand’s tourism offerings, are culturally and historically important, and have significant spill over benefits to the region where it is located.

Investment decisions are made by the Tourism Recovery Ministers Group. The group was set up to oversee the industry’s recovery brought on by the impact of the Covid-19 pandemic. 

More than 300 applications for the Strategic Tourism Assets Protection Programme were received by the time applications closed on Thursday 18 June. 

The programme has so far earmarked up to $35.9m in funding, including $10.2 million to AJ Hackett Bungy New Zealand, $1.5m to Whale Watch Kaikōura, $4m to Discover Waitomo, and $20.2m to 31 Regional Tourism Organisations, including Destination Queenstown.

Further announcements will be made in the coming weeks.