The government intends to invest up to $1.7 million over five years into the mountain biking Crankworx Festival and Enduro World Series in Rotorua.

Crankworx, the world's biggest mountain bike festival, will be held in Rotorua from March 25 – April 2.

It has previously been hosted in Whistler and the French Alps.

Economic Development Minister Simon Bridges says Crankworx provides a ‘fantastic' opportunity to showcase the Bay of Plenty as one of the best mountain biking venues in the world, attracting the world's best pro-athletes.

'This event is expected to inject millions into the Rotorua economy and lead to wider economic benefits for New Zealand economy as a whole.”

The government previously invented $420,000 in the 2015 and 2016 Crankworx events. After a successful first and second year, it is expanding to a nine-day festival this year.

'The economic and tourism benefits this event brings to Rotorua and New Zealand are significant. In 2016, the festival contributed $8 million to the Rotorua economy and 6.1 million viewers watched the event on television and online,” says Simon.

Last year the event attracted 1300 international visitors and this year it's expected to increase to around 1735, rising to more than 2000 by 2021.

'Continuing to invest in this event ensures it not only continues but also provides new initiatives, including marketing the event in Australia, the United States and Canada and bringing new international visitors to New Zealand during the shoulder season.

'It will also allow the trade and expo show to expand to a wider variety of products and businesses.”

The government's investment comes from the Major Events Development Fund which supports major events that generate significant immediate and long-term benefits to New Zealand.

Economic Development Minister Simon Bridges believes the Crankworx event in Rotorua will benefit the region. File photo.