Economic Impact
An Economic, Education and Social Benefits study conducted by Enigma Research Corporation in 2008, reports that the CNE generates an estimated C$52.5 million for the city of Toronto and C$71.4 million for the province of Ontario each year. The study also reveals that the 2008 CNE attracted more than 160,000 out-of-town visitors to the city and that fair-related hiring creates an equivalent of 579 full-year jobs in the region.
This national research initiative, commissioned by the Canadian Association of Fairs and Exhibitions (C.A.F.E.), was conducted at 20 fairs of varying sizes throughout Canada in 2008. A total of 1,200 people were interviewed during the 2008 Canadian National Exhibition alone.
Other highlights of the research include:
- Local residents spend US$45.7 million related to the CNE
- The CNE is an important cultural and community tradition to attendees
- Visitors recall and appreciate the support of the CNE’s corporate sponsors
- Agriculture and farming heritage are important to attendees
- The CNE provides attractive offerings for all ages
The CNE works with several organizations to promote tourism to the Greater Toronto Area and the province of Ontario, including: Festivals and Events Ontario, Tourism Toronto, Attractions Ontario, the American Bus Association and the Ontario Motor Coach Association.
On Jan 27th, 2012, the Board of Governors of Exhibition Place and the Board of Directors of the Canadian National Exhibition Association announced that CNE will officially become financially independent from both the Board of Governors of Exhibition Place and the City of Toronto in 2013. "Toronto City Council will be asked for approval of this new agreement at their March 5–6, 2012 meeting." The new agreement was approved by the Toronto City Council and the CNEA will be financially independent by April 2013.
Read more about this topic: Canadian National Exhibition
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