27 Sep 2013

Team NZ loss sparks call for support

6:15 am on 27 September 2013

The Marine Industry Association is calling on the Government for support in the wake of Team New Zealand's failure to win the America's Cup.

The association aims to double the sector's exports to more than $1.3 billion in the next seven years, largely based on the America's Cup being hosted in New Zealand.

Executive director Peter Busfield says Oracle's win on Thursday means that export target will now be tough to achieve.

Despite designing and building the boats used in San Francisco, including Oracle's, Mr Busfield says the sector has been hit hard by the high dollar and the global downturn and may need help from the Government.

However, the Government has already ruled out any further assistance to the industry, although it will consider funding another America's Cup challenge, if one eventuates.