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Originally Posted by Cali Panthers Fan
Nothing is ever certain in any investment, so you always have to be aware of the possibility of losses. But the more I look at this I think this is a really smart move to revitalize an entire sector of the city.
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There has been a hockey arena in that area for decades now, it's called the Saddledome. There is almost major development going on, the Corral was town down and the Federal Government, the province and the city chipped in a combined 500 million for the BMO Convention Centre, a worthy project that will do everything you claim and more
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The expansion project is expected to provide significant economic benefits nationally, and locally.
During the construction phase, the project is expected to generate an approximate $497 million for Canada’s GDP, and $402 million for Alberta’s.
Currently, there are around 100 workers on site daily. Plans are to ramp up to close to 400 after the conclusion of the Stampede. Overall the project is providing slightly more than 1,850 full-time jobs for the province, with about $155 million for direct wages and salaries.
Kate Thompson, President and CEO of CMLC, said that they have been able to take advantage of good timing and the expansive park space available to avoid supply chain and inflation related construction pressures.
“We’re over 100 per cent tendered on this project, and we still have issues to come no doubt, but the team is really well-positioned to handle that,” she said.
“One of the advantages of this site that you don’t get in a lot of other downtown sites for construction is that we do have space in the park, and the Calgary Stampede has been excellent partners. It’s been providing extra laydown space if we needed to order steel early or get ahead of the supply chain.”
When the project is completed, more than 9,000 tons of steel will have been on site.
When complete, the Stampede said that their modelling, provided by the Conference Board of Canada and MNP, suggested than annually the centre would bring $267 million to the national GDP.
Once completed, the entire BMO Centre would provide for 1,580 full-year jobs in Calgary, and about $79 million in direct wages for staff at the Centre and other associated businesses.
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The ScotiaRogersPlace.Com arena isn't doing any of that.