The Philadelphia Inquirer is reporting that the annual New Year’s Eve fireworks at Penn’s Landing are in danger of being cancelled due to a lack of funding, according to the show’s producer.

Last year, the city Commerce Department picked up the tab, contributing $75,000. But this year, facing a budget shortfall, the Nutter administration decided that the city couldn’t afford the fireworks.

“We would love to have fireworks on New Year’s Eve at Penn’s Landing,” City Representative Melanie Johnson said. “However, the city, like the rest of the country, has less revenue to work with this year. So in order to proceed with fireworks, we’ll need to find other funding sources.”

With the current economic crisis, could this further affect tourism and hotel vacancies?  Full story after the jump.

- Funding loss threatens New Year’s fireworks [The Philadelphia Inquirer]

UPDATE (12/3/08): Funding has been secured!  Penn’s Landing Corporation announced today that it has secured funding from the Commonwealth of Pennsylvania, Greater Philadelphia Tourism Marketing Corporation, Penn’s Landing Corporation and private corporate sponsors PRWT Services, Inc., the Hyatt Regency Philadelphia and the Moshulu, to save the fireworks traditionally scheduled on New Year’s Eve.

- Penn’s Landing Corporation Secures Funding to Preserve Fireworks on New Year’s Eve, an 18-Year Tradition

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