Paramount Theme Park applies for public funding

paramount-park2The Paramount Theme Park which is planned for development in the Alhama area of the Murcia region may be granted public funds in order to move the project forward. Jesus Samper, the man behind the ambitious project, has been trying to get development underway for three years now as he struggles to raise the necessary funds.

The theme park is designed to be a rival to Disneyland Paris and those behind it believe that it will hold various key benefits over its rival. These include the climate which means that the park will enjoy almost year round sun and also transport infrastructure with the new airport at Corvera meaning that there is high potential for expansion.

17 million euros are needed for the project to finally get underway and even the Spanish central government has now got involved in the fundraising. The country’s Ministry of the Economy and Competition has applied for the ?17million from the European Foundation for Regional Development on behalf of the park’s developer: Premursa.

The central government has therefore added its support to that of the regional government of Murcia. The regional government gave its support to the project in 2010 when it approved the 30 year lease of the land to be used for the project. The project was advertised as Murcia’s main tourist attraction at this years International Tourism Exhibition in Madrid.

The application for the European Union funding is being made only in connection with the theme park itself and not for the retail and hotel complex which is set to be built along with the attraction. If it is granted, then the money will make up 8% of the total funding for the project which has an estimated completion date of between December 2015 and January 2016

The move to apply for public funding for the project has proved controversial with various representatives in the regional government of Murcia complaining that such funding should be used to support agriculture and provide relief for those affected by the drought as well as diversifying the region’s economy.

Premursa expects that the Paramount theme park will attract 3 million visitors per year made up of both foreigners and Spaniards and will also create around 23,000 jobs. A recent study from Deloitte has shown that the success of the newly built Corvera airport will be closely linked to the development of the theme park.

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