The Province of Manitoba and City of Brandon will provide $15.418 million in funding to assist the Keystone Centre with ongoing operations, debt reduction and capital improvements, helping the facility maintain its reputation as a premier site attracting hundreds of conventions, trade shows, fairs, entertainment and sporting events every year, Agriculture, Food and Rural Initiatives Minister Rosann Wowchuk announced.
“This funding demonstrates the province’s commitment to helping the Keystone Centre enhance and maintain its status as an agricultural centre of excellence, event facilitator and economic driver for Brandon and southwestern Manitoba,” said Wowchuk. “It is a valuable asset to our province as a unique venue for agricultural and entertainment events, contributing significantly to the local economy.”
The provincial funding announced today includes $2.375 million for capital improvements, a $557,000 debt-reduction grant, an annual operating contribution of $250,000 for 10 years to offset operating expenses and a further $125,000 contribution for 10 years to accelerate debt reduction. The City of Brandon will also contribute $1.375 million for capital improvements and $375,000 annually for 10 years, with $125,000 of this amount also being directed to accelerating debt reduction. In addition, Brandon will provide a grant equal to the CanadInn taxes estimated to total $2 million over 10 years to be used for ongoing capital needs.
The Keystone Centre will be undergoing a $5.125-million retrofit project. Funding for this project includes:
• $4.125 million previously approved under the Municipal Rural Infrastructure Fund (MRIF) which includes $1.375 million from the City of Brandon and $1.375 million each from the provincial and federal governments; and
• $1 million from the province.
Also included is $4.72 million in loan refinancing to assist the centre with its capital debt.
“Brandon city council is pleased to partner with the province to assist the Keystone Centre with operating expenditures and funding for important infrastructure enhancements and upgrades that will help the centre attract more large scale conferences, high-profile agricultural events and prestigious sporting events like junior hockey’s Memorial Cup which will be hosted here in 2010,” said Brandon Mayor Dave Burgess. “Attracting audiences and competitors from around the corner and around the world gives Brandon valuable recognition as a prime tourist destination.”
The minister noted the province has contributed approximately $11 million in funding to the Keystone Centre since 1999 through event sponsorships, operating support, grants for equipment and facility upgrades, and building additions. Meanwhile, the City of Brandon has contributed $3.124 million since 1999.
The Keystone Centre is home to the annual Royal Manitoba Winter Fair which attracted over 110,000 participants and guests last year. It is also home ice for the Brandon Wheat Kings hockey team and the site for Ag Days, an annual three-day event that attracts approximately 37,000 guests. It is also a designated post-disaster emergency shelter for the Brandon area.
