The P.E.I. government will put up $350,000 towards the cost of bringing Aerosmith to Charlottetown this summer, the tourism minister told CBC News Friday.

Philip Brown said it's a worthwhile investment considering the expected economic spinoffs. The province calculates it will gather $700,000 in taxes from an expected 30,000 fans over the course of the July 21 weekend.

The Aerosmith concert will bring in double the province's investment in tax revenues, Tourism Minister Philip Brown believes.
(Claire Greenway/Getty)

"To not do this, and to have this event take place in Moncton, we lose all the benefit," said Brown, adding those benefits include spinoffs for Island businesses.

The province paid $70,000 to the same promoter, David Carver, when he brought the Black Eyed Peas to Charlottetown for a Labour Day concert last year.

This concert will also provide P.E.I. with some worldwide exposure.

An Aerosmith documentary is being produced, and the Charlottetown concert will be part of that profile. Brown doesn't know how much of Charlottetown or P.E.I. will make it onto the DVD or television special.

That uncertainty bothers Liberal tourism critic Carolyn Bertram. She said it would make her nervous to write a cheque for more than a quarter of a million dollars without any guarantees attached to the documentary or concert.

It's not that we're against the event, but certainly without stipulations in regards to $350,000, it's very questionable," said Bertram.

She said she'd be questioning Brown this week in the legislature about the concert.

Tickets for the Blast at the Beach Aerosmith concert are expected to go on sale later this week.