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VANCOUVER – The Vancouver Convention Centre Expansion Project passed an important milestone today with the signing of an agreement between Tourism Vancouver and the Government of British Columbia, Premier Gordon Campbell and Tourism Vancouver chair Terry Bubb announced today. “With this agreement, the Province, the tourism industry and Ottawa are on track to provide a world-class facility that reflects B.C.’s reputation as one of the world’s top tourism destinations,” Campbell said. “In addition to the construction and tourism jobs generated here in Vancouver, the expanded convention centre will support growing tourism opportunities across the province and enhance B.C.’s international profile as we move toward 2010.” The agreement formalizes the partnership between Tourism Vancouver and the provincial government and confirms funding arrangements for the expansion project. Tourism Vancouver will contribute $90 million to the $495 million expansion, which will be built on the Burrard Landing site, west of Canada Place. The federal and provincial governments will contribute the remaining $405 million on a cost-shared basis. The expanded facility is expected to open in 2008. “British Columbia’s tourism industry is proud to support this project,” said Tourism Vancouver chair Bubb. “The expanded centre will be a magnet for international events, both in the run-up to 2010 and in the years beyond. This is an exciting time for British Columbia tourism, and we’re encouraged by government’s ongoing commitment to the industry.” “The expansion project will generate up to $5.1 billion in economic activity,” said Competition, Science and Enterprise Minister Rick Thorpe. “Combine that with hosting the 2010 Olympic Games, and British Columbians can look forward to potentially $10 billion in total economic activity and more than 200,000 new jobs.” The Government of Canada’s financial commitment is through the Canada Strategic Infrastructure Fund. The Province formed the Vancouver Convention Centre Expansion Project Ltd., a provincially owned corporation with responsibility for delivering the completed expansion in 2008. -30-
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