THE City of Greater Bendigo wants to continue the debate on whether it should or should not subsidise performing arts and other cultural institutions in the city.

The council released for public comment its 200-page response to an independent review, which recommended the city investigate making business units in its City Futures Directorate self-sufficient within five years.

Those bodies include the Bendigo Art Gallery, The Capital and Major Events, Economic Development Unit and the Bendigo Tourism Board.

The council's response found the economic flow-on from major events has risen rapidly and growth in Bendigo outstrips its regional counterparts, attributable in part to its reputation as a cultural hub.

Participants in major events in Bendigo increased from 39,734 in 2008/09 to 132,889 in 2013/14, adding an economic impact of almost $19 million, according to City of Greater Bendigo data.

The city's response also found breaking up City Futures into separate entities independent of council would not deliver substantial savings to the City of Greater Bendigo budget.

Mayor Peter Cox said he often heard from people in the Bendigo community that there was too much emphasis on the performing arts and other cultural sectors.

"Some people are saying that perhaps there is too much money being spent in that sector," he said.

"We're putting the report out so we can have a discussion on what perhaps could or should be subsidised.

"Some councillors and some people are saying that perhaps we need to redeploy, or spend a little bit less, in the arts and culture area and redeploy those resources into the small business and retail sector."

Cr Cox said it could be considered unfair for Bendigo to solely be known as a cultural centre when it had strong small business and manufacturing.

Alternative models outlined in the council's response included Brisbane Marketing, Enterprise Geelong and the Hunter Development Corporation.

Each of these had a varying reliance on state funding, as well as relationships and management structures with local government.

City of Greater Bendigo chief executive officer Craig Niemann said the city needs to seriously consider whether it should change a model he believes is operating successfully.

"We think it's a successful model, but I guess we've had to ask ourselves why we would change a successful model, and I think we've looked at those elements to try and think of different ways of doing things," he said.

"There will probably be people in the community who would think we could do it differently.

"It's about trying to create a community outcome, and how to make that financially sustainable."

The public has until May 11 to comment on the City of Greater Bendigo's response.

The report can be viewed at www.bendigo.vic.gov.au/cityfuturesreport