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The New Convention Centre – Industry & Business Overview

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The New Convention Centre – Industry & Business Overview

Project Overview – Convention Centre

Province of Nova Scotia, Halifax Regional Municipality & Government of Canada partnering to fund new convention centre - $164.2M

-PNS & HRM each contributing approximately $56M -Government of Canada contributing $51M

Fixed-price, turn key facility; no payments Rank until facility is complete

Rank has responsibility for cost overruns, design & construction risk

Multi-level convention centre, approximately 120,000 sq ft of rentable space (290,000 gross sq ft)

LEED Gold certified

Opening in January 2016

Industry Overview – Canadian Snapshot

Canadian meetings & conventions industry is a strong economic contributor:

Generated more than $71 billion/year industry output

Produced more than 673,000 meetings/year

Generated more than $14 billion in annual tax revenue

Created equivalent of over 550,000 full-year jobs

*Conference Board of Canada 2007/2008 Canadian Economic Impact Study Update for Meeting Professionals International

Industry Overview – Competitive Environment

Recent expansions in Canada: new Ottawa Convention Centre, Vancouver Convention Centre, Niagara Convention Centre & Winnipeg Convention Centre expansion recently announced

Recent expansions in Atlantic Canada: new Fredericton Convention Centre, expansion of Moncton Coliseum, new Charlottetown Convention Centre & St. John’s Convention Centre expansion underway

55% of current WTCC does not meet industry standards

JDA Architects assessment confirms current footprint can’t accommodate proposed expansion

Since 2007, Nova Scotia has lost over 100 national & international events due to facility limitations

Market Potential – Projected Future Business

The new convention centre with larger, more flexible space allows for:1. Hosting larger events of up to 3,000 attendees2. Hosting more concurrent small & mid-size events3. More national & international events

Year Total Events Total Delegate & Attendees

Fiscal 08/09 (actual, for comparison)

584 163,365

Projected Year 5 671 220,000

Projected Year 10 735 250,000

Total 10 Years of Operations

6,800 2.2 million

Nova CentreEconomic opportunities for the whole province

Agenda

1. The Business Case2. Economic Opportunities3. Long-term Tourism Strategy

Benefits: Construction Phase

• Building the Convention Centre will result in:– $9.5 million in provincial government

revenue (direct and spinoff)– Employment Benefits

• 900 person-years of direct employment

• 800 person-years of indirect employment

Benefits: Operations Phase

• Operating the Convention Centre will result in:– $85 million in provincial tax revenue (direct and

spinoff) in first 10 years– $40 million more than from current World Trade

Centre

• Impacts will come from:– Employment, food, accommodations,

security, logistics, entertainment, transportation, retail, etc.

Source: Economic Impact Assessment of the Proposed Redevelopment of a World Trade and Convention Centre in Halifax, Gardner-Pinfold, 2009

Tourism Opportunity: Pre & Post Trips

Extend stay to see the prov-ince

Attend event only

0% 10% 20% 30% 40% 50% 60% 70% 80%

47%

53%

Almost half of delegates from outside of Atlantic Canada extend their stay to see the province

Tourism Opportunity: Increase Delegate Spending

All Visitors Convention Visitors

$98

$201

Spending per Person, per Day

Halifax Convention Visitors travel the province

Fundy & Annapolis Valley

South Shore

Northumberland Shore

Cape Breton

Eastern Shore

Yarmouth & Acadian Shore

19%

17%

16%

4%

1%

1%

Regions Visited Outside of Halifax

Opportunity for growth

Popular stops for Out-of-Region Convention Visitors

Peggy’s Cove

Lunenburg

Mahone Bay

Truro

Cape Breton

Digby

Wolfville

Antigonish

Chester

0% 5% 10% 15% 20% 25% 30%

25%

20%

17%

13%

9%

7%

7%

6%

6%

Long-Term Strategic Goal for Tourism in Nova Scotia:

Focused on the visitor – to attract more of them, increase spending, and encourage longer stays –

to build overall industry profitability.

Nova Centre Supports the Tourism Strategy

• Improve access to key tourism assets and experiences

• Encourage convention visitors to experience the entire province and inspire them to come again

• Focus on partnerships to attract more visitors and showcase Nova Scotia

Provincial Benefits & Opportunities

Position Nova Scotia as a destination of choice

Generate increased tourism; pre- & post-convention travel

Support local industry & business community through provision of goods & services; showcase Nova Scotia products

Build our international reputation through business development & business attraction

Create learning & training opportunities – leverage research expertise

Support non-profit & community groups