WILDWOOD, NJ: The numbers are in for 2006 and GWTIDA is pleased to announce that TDF collections for the year were up substantially over 2005. This increase in revenues allows GWTIDA to allocate more money to events and event promotion island-wide as well as increase the amount of money given to our three district communities from the 1.85% Tourism Assessment.
In 2006, GWTIDA has confirmed that it has allocated more than $773,562 in total funding, $257,854 distributed to each of the municipalities of Wildwood Crest, Wildwood and North Wildwood, to be used for beach maintenance and administrative costs.
In addition, nearly $400,000 has also been allocated for the funding of events in the district either to the municipality directly or to independent promoters to produce exciting special events aimed at attracting new visitors to our island, extend the tourist season, and which, in turn, benefit all businesses. GWTIDAs total reinvestment to the communities is close to $1.2 million.
With respect to the dollars given back to the municipalities by GWTIDA, the importance of this to the taxpayers of these communities cannot be overlooked, said John Siciliano, executive director of GWTIDA. These allocated funds are used in part to reduce the general expense of running those governments thus reducing the citizens tax burden. If not for the funds GWTIDA grants to the municipalities, each community would have to raise taxes to cover the costs of programs these funds are used to offset, he continued.
GWTIDA is optimistic for the upcoming season in which we will see an exciting new creative advertising campaign, more and bigger special events and an increased number of bookings in the Convention Center. In addition, GWTIDA and the Wildwoods Convention Center are planning to build on the success of last seasons Oceanfront Arena Summer Entertainment Series. All these factors should result in increased funding for the following season.
For more information about The Wildwoods visit www.WildwoodsNJ.com or call (800) 992-9732.