Economy and Tourism get big boost from annual Festival

TORONTO, April 27 /CNW/ - With the Honourable Michael Chan, Minister of Tourism and Culture at his side, Scotiabank Caribana chairman Joe Halstead today announced the results of an Ipsos Reid Economic Impact Study. The third party survey conducted last year, reports that Scotiabank Caribana creates thousands of jobs, draws tourists to Toronto and adds hundreds of millions of dollars to the economy every year.

"Scotiabank Caribana 2009 contributed in excess of $396 million to the provincial GDP - 79% of this gain was generated in Toronto and surrounding areas," said Joe Halstead, CEO of the annual festival. "The survey results demonstrate the economic impact that this great festival has on our city's economy, benefitting all levels of government. The Ipsos Reid analysis calculates that total tax receipts were in excess of $198 million last summer with the Federal Government being the largest beneficiary (taking in some 55% of total revenues generated)."

"Despite the rising dollar and a change in passport requirements at the US border, Scotiabank Caribana continues to be a tourism magnet attraction," continued Mr. Halstead. "Ipsos Reid reports that 1.2 million people attended the Festival last year - 171,000 from the United States and a further 130,000 from the Caribbean, South America, Europe and Asia."

Michael Chan, the Provincial Minister of Tourism and Culture, commented on the tourism engine known as Scotiabank Caribana.

"Scotiabank Caribana plays an important role in our tourism industry by attracting new visitors and raising Ontario's international profile. By investing in the Festival, we also support our government's five-year Open Ontario Plan to create economic growth and jobs for Ontarians," said Minister Chan.

After releasing the new study, Scotiabank Caribana announced a major new media sponsor and new promotional and sponsor agreements with all media partners. The declaration was made at a special "kick-off" press conference held in the Royal Ontario Museum's Queen's Park Rotunda.

The producers of the annual festival - the Festival Management Committee (FMC), have also announced a new print media partner. The Toronto Star along with Sway Magazine (premier lifestyle magazine for African and Caribbean Canadians), Eye Weekly and Canadian Immigrant Magazine, will deliver in-kind support to the province's marquee summer event in 2010.

CTV Toronto - home to Toronto's number 1 newscast CTV News at 6, and CP24 - Toronto's destination for breaking news, are now in the second year of a three-year sponsorship agreement with the Festival. Both broadcasters will deliver comprehensive in-kind support this summer, highlighted by a live parade broadcast on CP24, as well as the production and airing of public service announcements, editorial coverage throughout local newscasts and online coverage at CTV.ca and CP24.com.

"The strength of the Festival has always come from the support we receive from our growing list of corporate and media sponsors," said Joe Halstead. "Our sponsors give selflessly to our cause, knowing how much Scotiabank Caribana means to their audiences."

"We are very proud of the continued success of Scotiabank Caribana," said John Doig, Scotiabank Senior Vice-President Toronto Region. "With the increased support, this year's event will reach new heights of creativity and artistic and cultural expression, engaging the more than 1 million people who come out to make this event a success."

The morning press conference also announced that four major GTA public institutes and Tourism Toronto have teamed up with Scotiabank Caribana this year. The Royal Ontario Museum will once again host a juried art show of African Canadian Art, the Greater Toronto Airport Authority will sponsor steelpan concerts in-terminal for the enjoyment of international visitors and, new this year, the Ontario Science Centre will present further Scotiabank Caribana programming. Scotiabank Caribana Lime will remain at Ontario Place this year.

Corporate sponsors of this year's festival include: Scotiabank, The Federal Government, The Province of Ontario, the City of Toronto, Tourism Toronto, The Toronto Star, Sway Magazine, Eye Weekly, CTV, CP-24, Research In Motion (RIM)/BlackBerry, The Greater Toronto Airports Authority, Ontario Place, the Royal Ontario Museum, the Ontario Science Centre, The Toronto Library, Yorkgate Mall, Liberty Grand and Grace Kennedy Foods.

About Scotiabank Caribana

Scotiabank Caribana is an exciting three-week cultural explosion of Caribbean music, cuisine, revelry and visual and performing arts. Now in its 43rd year, the Festival has become a major international event and is the largest cultural festival of its kind in North America. As Carnival is an international cultural phenomenon, the great metropolis of Toronto and its environs will come alive as the city explodes with the pulsating rhythms and melodies of Calypso, Soca, Reggae, Hip Hop, Chutney, Steel Pan and Brass Bands, through Scotiabank Caribana. The Festival Management Committee oversees the running of North America's largest outdoor festival.

This year the Official Launch for Scotiabank Caribana will take place at noon on Thursday July 15th. The parade will be staged Saturday, July 31, 2010; 10:00 am - 6:00 pm. For complete listing information visit www.caribanafestival.com the only official website for the Festival.