Ever wonder what the economic impact of the Calgary Stampede is to the city?
At the recent Lake Louise Business Forum, the Stampede revealed that a Conference Board of Canada review pegged the annual economic impact of Stampede activities in the community at $540 million.
“Annually, the Stampede hosts more than 1,200 world-class business, tourism, sporting, hospitality and community events. With the expansion of BMO Centre into a Tier 1 conference facility now underway, these numbers and the economic impact will grow dramatically,” said Dana Peers, President & Chairman of the Board of the Calgary Stampede, in a statement.
The conference board was commissioned in advance of the BMO Centre expansion as a benchmark to better understand the future benefits of that initiative, said the Stampede.
It said construction of the expanded BMO Centre is anticipated to generate $497 million for Canada, with $402 million of that staying in Alberta. Once complete, the facility is projected to bring in $223 million for the province annually and provide more than 1,750 full-time jobs. Work on the first phase of the BMO Centre expansion is expected to be complete in June of 2020. The second phase of the expansion work is set to begin in late 2020, with completion expected in 2024.
“The numbers provided by the Conference Board of Canada are a great story for the community. We should all be proud of the ambassadorship we have cultivated together and the tremendous engagement that continues to grow towards our great city,” said Peers.
Mario Toneguzzi is a business reporter in Calgary.
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