The Visitor Attractions & Events Scheme 2 has replaced the original scheme. The application criteria for the scheme have been updated so that more key businesses in the sector can benefit from financial support from the Government.
Ministers have agreed a number of changes after the uptake for the scheme has been lower than expected. Going forward, businesses will need to meet the following criteria:
Have an annual turnover of more than £150,000 - reduced from £300,000
Have experienced a detriment of 30% to their turnover as a result of public health restrictions - reduced from 50%
In addition, to bring the VAES in line with other Government support schemes, the requirement to be registered for GST will be removed. All changes will be backdated to the start of January 2021.
Minister for Economic Development, Tourism, Sport and Culture, Senator Lyndon Farnham said: "The larger attractions and events companies provide key infrastructure that underpins our tourism and hospitality industries which, in turn, support our air and sea transport links.
"This sector will play a vital role in the Island's economic recovery but it has been particularly impacted by the pandemic so it's important we provide support to sustain these businesses."
A full set of guidelines has been drawn up to explain how businesses can apply for the VAES and will be available on the Gov.je website later today.
Senator Farnham added: "Since the start of the pandemic we have kept the Island's business support schemes under constant review and adjusted them to provide appropriate support as circumstances changed. The revised VAES is part of a package of Government schemes that are now in place to assist a wide range of local businesses and protect islanders' jobs."
The Visitor Attractions and Events Scheme was launched on 05 February to support Jersey's core visitor attractions and the companies that provide the specialist equipment and expertise that is essential to operate the larger scale events and enable them to continue trading in 2021.
It will meet up to 80% of fixed business costs incurred and will be in place until April 2021. Applications are no longer being received under the old scheme as of 15 March 2021. Applications to the original scheme will be processed in line with the requirements of that scheme.