Convention centre will generate dollars, jobs: officials

Posted Oct 7, 2010 06:06:13 AM.

This article is more than 5 years old.

Provincial officials say the business case is there to support the new convention centre.

At Wednesday’s briefing Jane Fraser with Transportation and Infrastructure said direct and spin-off benefits of the new facility are estimated at $86 million.

That includes up to $40 million in tax revenues and thousands of new jobs.

Trade Centre Ltd. President Scott Ferguson says the new building will cost $1 million a year in maintenance. But within 10 years, annual revenues are expected to grow to $14 million from the current $6 million.

Ferguson notes the current facility can only host one convention at a time and more than half of it doesn’t meet industry standards.

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