A MAJOR event scheduled for the Borders could bring in £1.5 million for the area, according to council papers.

Members of Scottish Borders Council’s executive committee are due to meet on Tuesday (April 20) and will be asked to approve funding for the Enduro World Series (EWS) mountain biking event.

Thousands of people are expected to visit Innerleithen and Peebles for the event in the autumn.

Council papers state that the biking spectacle could have an “economic impact of £1.5m for the area”.

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“One of the key events for the Tweed Valley over the next few years is the Enduro World Series (EWS), with the first event due to take place in October 2021,” the papers state.

“It is anticipated, if COVID-19 restrictions are relaxed and international travel has resumed, there will be approximately 1,200 competitors and in excess of 5,000 spectators building up to a potential 10,000 spectators in 2023 – with an estimated economic impact of £1.5m for the area.

“At the present time, the event already has 1,000 entrants and a waiting list.”

Organisers of the race are reportedly targeting an annual return across the next five years, which could “promote the Scottish Borders to a global audience”.

The council will offer organisers £10,000 – taken from the events budget – to help with the event, if members approve recommendations at tomorrow’s meeting.

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The papers state: “Scottish Borders Council has been asked by the organisers of the EWS to provide a contribution of £10,000 to the overall project budget for the event.

“Officers are working with the event organisers to develop the proposal and to clarify the exact use of the funds along with the anticipated economic outcomes the event is seeking to achieve; there is a strong fit with desired outcomes from major events and it is therefore recommended that £10,000 is allocated to this event subject to the normal application and review process.”

According to the council, it has previously been estimated that events generate and contribute over £7 million per annum to the local economy.

Alongside the money proposed to help the EWS, members will also be asked to approve the level of support given to events in 2021/22.

Officers are recommending that up to £2,500 be offered to support an entirely new event in 2021 or 2022, while up to £5,000 could be given in 2021 “to prepare to hold an existing event in 2022 where no event is being held in 2021”.

Finally, £10,000 of support will be given to hold an existing event in 2021 if members approve the plans.

The EWS previously came to the Borders in 2015.