The new nine day tagged fishing event was officially confirmed on Friday along with plans to offer a major prize of $20,000 and an overall prize pool of at least $25,000.

The decision follows a report to council this week indicating there is significant interest among the local business community in helping to meet running costs by providing sponsorship and prizes.

“Council has canvassed the business community and fishing groups to gauge interest in the event and has received a tremendous amount of positive feedback and support,” Mayor Paul Harmon said. 

Cr Harmon said he discussed the initiative with NSW Tourism Minister and Member for Northern Tablelands, Adam Marshall, who had acknowledged Copeton Dam’s reputation “as a tourist Mecca for anglers”.

The event will aim to attract more than 700 participants, with organisers already fielding enquiries from recreational anglers as far afield as Tasmania and Victoria.

The event’s major sponsor, who will also receive naming rights, will be announced “shortly”, a council media release stated.  

The initiative aims to benefit the district’s economy including retailers, hospitality businesses and tourism venues. 

“We are committed to helping local businesses grow, so entry forms will be available in local business houses and we will be working with NSW Fisheries to identify opportunities to keep operational costs to a minimum,” Cr Harmon said.

“Inverell Shire boasts some of the best Murray Cod fishing in the state and council is keen to grow our reputation as a travel destination.” 

The mayor said that although similar events were held elsewhere, none were on the scale of Cod Cash which will run for nine days and offer “substantially greater prize money”.

Registered participants will have the chance to catch one or all of an undisclosed number of fish with tags representing cash prizes. 

The competition will run from April 14 to 22, 2018; and coincide with the school holidays in Queensland and New South Wales.