Province Invests Additional Funds In 2015 Games
TORONTO 2015 Pan Am/Parapan Am Games Will Drive Tourism, Boost Economy
The TORONTO 2015 Pan Am/Parapan Am Games are in a prime position to boost the economy, build communities and showcase Ontario internationally, following the province's additional investment of up to $74 million for Games operations.
Ontario has identified savings in Games-related costs of $45 million to date. This means that the increase in the overall investment is $29 million or 1.1 per cent of the budget. In addition, the province will hold back $30 million as TO2015 continues to pursue further revenue and partnership support.
Through its final operational planning assessment, the TORONTO 2015 Pan Am/Parapan Am Games Organizing Committee forecasts $25 million in revenue shortfalls and identified additional requirements totalling $49 million. The additional funding will be applied to a number of elements, including:
- Making Ontario a leader in accessibility by providing, for the first time, live broadcast of selected Parapan American sports showcasing international athletes at top-level competition
- Creating a safer environment for athletes with availability of back-up ambulances
- Adding more communities and participants from across Ontario by expanding the Torch Relay
- Reducing travel time for Games participants with satellite villages
- The Games continue to be an important economic driver, creating 26,000 Games-related jobs and growing Ontario’s GDP $3.7 billion by 2017.
- Construction of the CIBC Pan Am/Parapan Am Athletes’ Village is more than 95 per cent complete and on budget
- TO2015’s capital budget for the construction or renovation of 25 new and existing sport and recreation facilities and other projects is projected to provide $49 million in savings for municipalities and universities related to their share of venue construction.
- Several new or renovated Games venues are in use – the CIBC Hamilton Pan Am Soccer Stadium, CIBC Pan Am/Parapan Am Aquatics Centre and Field House, President’s Choice Ajax Pan Am Ballpark, Pan Am/Parapan Am Fields, Caledon Pan Am Equestrian Park, Welland Pan Am Flatwater Centre, Burlington Soccer Park and Minden Wild Water Preserve.
- More than 33,000 people have applied to volunteer for the Games to date.
- 75,000 Pan Am Games tickets were requested in the first 48 hours after launch.
“We are committed to delivering the Games Ontarians deserve. As we near the 10 month mark, we are moving from the planning stage to an operational focus and today’s investment will ensure the Games continue to reflect the values of Ontarians. This is our time to showcase the best of our province and give Ontarians the chance to participate, celebrate and benefit from this once-in-a-lifetime opportunity.”
“The vision for the TORONTO 2015 Games continues to be targeted on excellence in experience for athletes, spectators and the community. With the support and guidance of the Ontario government and all our partners, TO2015 is fulfilling important obligations and expectations for our Games.”