Photo courtesy City of Richmond
The City of Richmond today announced the results of a study on the economic impact of the Olympic Oval. The KPMG report says our city has benefited from both the construction phase, which generated 3,076 job and $234 million as well as the ongoing use of the facility which supports the equivalent of 400 full time jobs and earns an additional $19 million.
"This report is a testament to
the ongoing legacies of the 2010 Olympic Games and the Richmond Olympic Oval
for our community," said Richmond Mayor Malcolm Brodie. "The City's investment
in the Oval continues to generate huge social and economic benefits for
Originally built as the speed
skating oval for the 2010 Winter Olympic Games, the building has been
converted to serve the needs of the Richmond community and the visiting public.
As the city of Richmond said in a recent statement, the Oval has become, "A centre
for sport, recreation wellness, culture and tourism."
One of the attractions at the
facility, the Olympic Experience at the Oval, was named best new tourist
attraction in Canada. With nearly one million site visits a year, the Oval was
named as fourth largest tourist attraction in Metro Vancouver by attendance.
The city went on to state, "The
report does not include all of the indirect benefits accrued as a result of the
Richmond Olympic Oval, such as tourism benefits from the Richmond O-Zone, the
City's official celebration site during the 2010 Games and benefits from
hosting corporate and other non-sport events at the Oval."
The entire report can be seen at www.businessinrichmond.ca
The Oval's success spreads into
the community. For example, the Richmond Sports Hosting program generates more
than 20,000 hotel room stays annually with estimated economic value of $9
The Oval continues to contribute
to both physical and economic well-being of the citizens of Richmond.