Economic driver

According to recent research, the long-range economic contributions of Calgary TELUS Convention Centre clientele has been more profound than previously believed.

The meetings and convention business quietly, yet steadily, infuses the Canadian economy generating more than $4 billion per year in diversified economic impacts. The Calgary TELUS Convention Centre generates annually $105 million dollars in economic benefit within the city of Calgary. The local community primarily benefits when a cheque is written to a local hotel or convention centre. Secondary benefits occur when taxi owners, retailers, restaurants, and entertainment venues receive business from conference attendees. After that, the economy sees a tertiary, trickle-down effect when the dollars that attendees bring into the community are spent again by local residents.

Revenues 2010

Revenues for fiscal year 2010 were $21,229,769 – a decrease of $2,082,687 over 2009.

Expenses

Expenses for 2010 were $23,521,217 – a decrease of $1,007,873 over 2009.

Reserves

Total operating reserves at year end were $4,150,033.

Operating Grant

In 2010, the grant from The City of Calgary was $1,690,391. Of this grant, $180,000 is for capital expenditures, and is placed annually in a Major Replacement Reserve account held at The City. The balance supports operations.