The West Mid showground pumps more than £6 million into the regional economy, it was revealed today.

About 80 per cent of the cash directly benefits the Shropshire economy and supports up to 95 jobs in the region.

The figures were revealed in an economic impact study of the showground, which is operated by the crisis-hit Shropshire and West Midlands Agricultural Society.

The society is currently struggling to survive with about 80 creditors owed about £260,000.

It narrowly escaped going into liquidation last week and show bosses are planning a rescue package which will be put to members at a meeting on January 7.

Show trustee Roy Dodd, who is behind a survival scheme for the society, said: “This report just shows how valuable the showground is to the economy of Shropshire. It indicates the economic worth to the town and the county and would be used as the basis of long-term planning for the society. We just need to get over the short-term problems.”

The study, commissioned by the society and Advantage West Midlands, says it is “no understatement” to say there have been mixed fortunes for the society since 2001. It also adds that further progress “crucially” depends on major investment to reverse the decline.

The report, compiled before the society revealed its mountain of debt, says that in 2008, 62,500 people attended an event or made use of the showground, including 5,000 at the folk festival and 27,5000 at the West Mid Show.

“From April to September, there is an event on on almost every weekend for the best part of six months with warmer drier weather and less likelihood of flooding. However, weekday use of the site is very limited and there is clearly capacity for the use of the built or open land facilities which could contribute to the economic sustainability of the business,” the report states.

“In terms of gross impact estimate of economic value attached to the Shropshire & West Mid Showground events, at a local and regional level, there is estimated to be around £5,550,000 to £6,150,000 value into the regional economy.

“After displacement, taking into account local residents that would have spent on an alternative activity anyway, the true net impact is estimated to be approximately £2,570,00 to £3,000,000.”

By Business Editor Amy Bould