Fredericton Convention Centre generates 10.6 million dollars in economic impact
Fredericton, June 26, 2013: The Fredericton Convention Centre (FCC) released economic impact results for 2012, as analyzed by McKellar Cunningham and Associates. During the period between January – December 2012, the Fredericton Convention Centre generated 10.6 million dollars in total economic impact for the City of Fredericton.
This includes both revenue collected directly by the FCC, as well as money spent at businesses throughout the City.
In 2012, for every dollar of revenue generated at the FCC, an additional $3.67 was spent off-site during the events. As expected, the largest portion of this was spent on hotel accommodations; however, more than $500,000 is estimated to have been spent in the retail sector, and another $990,000 in local transportation. Restaurants, tourist attractions, audio-visual companies and even drycleaners are some of the business sectors positively impacted by meetings and conventions activity.
“We are really excited to see how the east end of downtown Fredericton is developing, due in no small measure to the success of the Fredericton Convention Centre”, says Krista Ross, Chief Executive Officer, Fredericton Chamber of Commerce. “Our members from many sectors are experiencing the positive business impact created by the FCC hosting events from across the country.”
In terms of performance specifics, the McKellar Cunningham report itemizes the following 2012 results:
- 228 events hosted
- More than 50 multiple day events
- Total attendance (delegate days) 47,600
- Average length of events 1.7 days
On average, one delegate to the FCC generates almost $300 per day of direct economic impact to the city during their stay.
“The increased capacity for hosting larger events created by the Fredericton Convention Centre has had a positive effect on our business.” commented Geoff Gallant, Hotel Manager of the Crowne Plaza Lord Beaverbrook. “Working together, we are making Fredericton a prime destination for national meeting planners.”
The Fredericton Convention Centre, located at 670 Queen Street, opened January 2011. For more on the facility, or to book an event, call 506-460-2770 or visit www.frederictonconventions.ca or Twitter @FredConvCentre.