Prime Minister John Key today announced $500,000 funding for a Central Otago bungy operation.
The funding, which will be in conjunction with almost $1.5 million of industry money, was announced this morning at the Trenz tourism conference.
It was for an A J Hackett ''world-first extreme adventure'' project.
The new launch system would combine height speed and flight, a ''very different experience to traditional bungy operations''.
The estimated economic value to New Zealand was $30 million to $40 million.
