The Ottawa Convention Centre celebrated its first anniversary Friday by releasing economic impact numbers showing the facility will generate an economic impact of $257 million in the next five years.
The Ottawa Convention Centre. (Photo by Mark Holleron)
The facility estimates these numbers based on 95 events booked, with more than 87,000 delegates and 4,100 exhibitors.
Delegate spending will be $194 million, exhibitor spending $63 million and convention centre production at $12.5 million.
The facility will produce an estimated tax revenue of $103 million. Officials also estimate 3,540 jobs will be supported by the overall economic impact of the convention centre.
"Being a G8 capital, Ottawa needed a new convention centre that could accommodate large-scale events," stated OCC chair Jim Durrell.
"OCC is a ‘stay-at-home export' because it attracts business to our nation's capital that would otherwise go elsewhere. Not only is OCC doing well from a business perspective, but the citizens who live here benefit as well."
This past year, the facility hosted 40 conventions and 35,000 delegates with an economic impact of $83 million. These included the Liberal and Conservative conventions, Northern Lights 2012 and the NHL All-Star Weekend, as well as annual events such as the Ottawa Wine and Food Festival.