The first WaterFire of the 2008 season is May 24, at sunset (8:08 p.m.).

Journal Files/ Ruben W. Perez

PROVIDENCE Despite a lukewarm economy, WaterFire fans can expect roughly the same number of full lightings (11) and partial lightings (4) as last year. At the same time, visitors to the popular display of floating bonfires on the downtown rivers will be asked to shoulder more of the costs associated with the event, which can run as high $120,000 per lighting.

Those were some of the details that emerged yesterday, as WaterFire organizers officially launched their 2008 season at a news conference. The event, held at the Ruth’s Chris Steak House overlooking Waterplace Park, attracted a Who’s Who of business and political leaders, including Providence Mayor David N. Cicilline, House Speaker William J. Murphy and state municipal affairs director Deborah Smith.

In their remarks, Smith and Cicilline both praised WaterFire and its creator, Barnaby Evans, for creating an event that regularly brings tens of thousands of people into the city’s downtown. Murphy, meanwhile, announced that WaterFire would receive the same amount of state financing — $300,000 — as it did last year.

“Obviously, these are very difficult economic times for many Rhode Islanders,” Murphy said, alluding to the state’s well-publicized budget woes. “But that only makes an event like WaterFire more important. Besides bringing people into the city, where they contribute to the local economy, WaterFire offers a very affordable way for families to enjoy a night out together.”

In his remarks, Evans said that corporate support for WaterFire remained strong. Indeed, many of the event’s longtime sponsors are back this year, including Sovereign Bank, which bankrolls the popular Sovereign Plaza Ballroom, and Verizon, which sponsors WaterFire’s jazz series through its wireless and communications divisions. Other sponsors include Amica, GTECH, Dunkin’ Donuts, Citizens Bank and the Gloria Gemma Breast Cancer Resource Foundation.

But Evans said corporate support alone isn’t enough to keep WaterFire burning.

When year-round costs such as salaries, insurance and maintenance are factored in, it currently costs about $120,000 to stage a full WaterFire lighting. Evans said that contributions from businesses, city and state governments and private foundations covered most — but not all — of that amount.

“One of our biggest challenges is that we are a free event that also happens to cost a lot of money to put on,” Evans said. “As costs rise, we either need to cut back, which is something we’d like to avoid doing, or we need to find new sources of revenue.”

To help raise additional money, Evans said volunteers will sell plastic glow-in-the-dark necklaces during WaterFire lightings. He said the necklaces, which will sell for a minimum of $3 each (visitors can pay more if they want), would highlight the communal nature of the WaterFire experience and create a “Ribbon of Light” between viewers.

“We think it’s a beautiful way for people to add to the WaterFire experience while also helping us financially,” Evans said.

Meanwhile, WaterFire fans can expect the first lighting of the season to take place on Saturday, May 24. The lighting, which begins at sunset (8:08 p.m.) and will feature all 100 of WaterFire’s floating bonfires, is sponsored by Bank of America and Brown University.

After that, there will be one more full lighting in May (May 30), two in June (June 21 and 28), three in August (Aug. 2, 16 and 30), three in September (Sept. 13, 20 and 27) and one in October (Oct. 11). There will also be two partial lightings in June (June 3 and 18) and two more in September (Sept. 17 and 19). Additional dates may be added as the season progresses.

bvansicl@projo.com