Liam ReidA small American merchandising company has emerged as the first foreign backer of the proposed theme park near Lusk in north Co Dublin. Oz-Central, a firm based in Henderson, Kentucky, said it was prepared to invest €1 billion in the €7 billion scheme.
According to the US Business Directory, Oz-Central is located in the town of Henderson, and employs between 10 and 15 people. Its annual revenues are between $2.5 and $5 million.
Its sister company Design Cast Studios, with the same address, specialises in the manufacture of plastic and bronze models and figurines, including Wonderful Wizard of Oz figures. Its annual revenue has been estimated at $750,000.
Mr Tim Alexander, an executive with Oz-Central, said the company was involved in establishing parks around the world, including Niagara Falls in New York state. He said the firm was "extremely interested" in the Vega City proposal in north Co Dublin, which had "the critical mass" to be a successful venture.
Speaking on RTÉ Radio's News at One, Mr Alexander said Oz-Central would be prepared to invest €1 billion in the scheme, and that the firm had that cash available at present.
Oz-Central holds the licensing rights to the original Wizard of Oz books and their illustrations, which it has bought from the family of L. Frank Baum, who wrote them.
On RTÉ yesterday, Mr Alexander, who was at a theme park conference in Florida, said he had never visited Ireland, but had flown over it. "I own a castle in Scotland on the Irish Sea," he explained.
He dismissed fears that the cold weather would make Ireland unsuitable for a year-round theme park.
"Look, the trend in theme parks because they cost so much, and ours is going to be extremely high-tech, is that everything is under roof and you use them 12 months out of the year."
A spokesman for Vega City said if the project went ahead, Oz-Central would be involved in one of the four theme parks planned for the Vega City site. Three well-known entertainment companies would be behind the other three parks.
He said that while Oz-Central was at a preparatory stage in theme park developments in Atlanta, Huston and Shanghai, the one at Niagara Falls was at a more advanced stage.
However according to local news reports, the Niagara Falls theme park seems to be at a very early stage. Local New York state radio station WBFO has reported that Oz-Central was asking for public and private sector funds to pay for a $225,000 feasibility study.
According to the radio station, it also needed demographics and tourism statistics, a site, and what company representatives were calling a "star bond" to help finance the project.