Halifax, NS – A report released today by Trade Centre Limited (TCL) measures the significant impact the proposed new convention centre will have on the Nova Scotia economy from its operations, as well as from delegate and event planner spending. 

The report, prepared by Gardner Pinfold, is a supplement to the previous economic impact assessment and includes the impacts from TCL’s updated market projections, which were completed in June. It also provides a comparison between the projected impact of the proposed convention centre and the current World Trade and Convention Centre (WTCC). 

“This economic impact assessment is an important part of the ongoing discussion about the proposed convention centre as it highlights the jobs and tax dollars we stand to gain,” said Scott Ferguson, President and CEO of TCL. “With larger, more flexible space and the ability to host more national and international events, we can attract the events, dollars and jobs that presently aren’t coming to the province.”  

The report estimates impacts over a 10 year operating period. The findings show that the proposed new facility will result in approximately 27,000 person years of employment and over $170 million in provincial and federal taxes. When comparing the proposed facility to the current WTCC, the report estimates a gain of approximately 12,000 person years of employment and over $79 million in provincial and federal taxes through 10 years of operations.

The report cost $10,000 and is available at www.conventioncentreinfo.com. Since the process for the proposed convention centre began two years ago, TCL has completed eight reports, including an internal staff report on future market projections, to examine various aspects of the project. The reports consider market conditions, economic impact, the viability of renovating the current facility and future market potential.

"The government is leading a very thorough process, which has included compiling relevant information that will support their evaluation of the proposed project,” added Mr. Ferguson. “We have been providing as much information as possible to government so it can determine if the proposed convention centre is the right project for Nova Scotia to pursue.”

A request for proposals for a new convention centre was issued in October 2009 and the response was submitted on July 19, 2010. The RFP submission outlines a design and facility management plan, financing and price.  A decision by the Nova Scotia government on whether the project will proceed will follow a detailed evaluation of the RFP submission.

Trade Centre Limited (TCL) is a provincial crown corporation that operates five business units: World Trade & Convention Centre, Exhibition Park, Ticket Atlantic, Halifax Metro Centre and World Trade Centre Atlantic Canada. Its mandate is to create economic and community benefits by bringing people together in Halifax and Nova Scotia.

- 30 -

For more information, contact:
Suzanne Fougere
Manager, Corporate Communications
Trade Centre Limited
902-421-7016
tclns.com