Last year, £33,000 was donated by local businesses to just £23,000 this year.
At one point the donations topped £110,000 but this has slowly declined over the years.
If Blackpool Council made good on the suggestion on closing the illuminations, then would this be the nail in the coffin for local hotels in Blackpool and other businesses? It is no surprise that the illuminations period is by far the busiest time of the season for Blackpool.
Although the income in cash received to support just the illuminations is lower than ever, the money spent in the town is the result of this period.
Is this just a scare mongering tactic to force businesses into digging deep into their pockets and help support this event? Should Blackpool Council decide that the £500,000 is not worth investing each year, then it would be argued that this would be short sightedness and detrimental to the town's heritage and interest worldwide.
Blackpool hoteliers and other businesses would be at risk, sinking further towards the red and Blackpool could face an unprecedented number of foreclosures on the high street.
Instead of lashing out talking about 'what if we close' kind of discussions, there should be more business focus on what the attraction brings each year and how to quantify it.
To simply turn off one of Britain's major attractions because of a balance sheet mentality just highlights the same argument of 'what have Blackpool Council spent the taxes on over the years?' Support the illuminations if you have a business in Blackpool by all means, but you already pay high council and business tax rates.
So instead of the council increasing these further, questions need to be asked as to where the money has gone in the past, and the plans for it in the future.
The history of Blackpool is evident throughout the town and the same mistakes don't want to be made over the next 50 years.