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The Gross Domestic Product, or the total monetary value of all goods and services produced as a result of meetings currently scheduled to take place at the OCC, rose from a projected $63 million in June 2009 to $129 million in June 2010. Employment is also expected to double from 1,200 to 2,400 jobs.

“This is the kind of economic stimulus the Ottawa Capital region needs at this time in our history,” said Patrick Kelly, President, OCC. “The new Ottawa Convention Centre will be host to organizations who have never been able to come to Ottawa because we could not accommodate their needs or their numbers.”

The significant economic impact of a redeveloped OCC was announced today during a tour of the construction site by the Honourable Bob Chiarelli, Minister of Energy and Infrastructure Ontario. The Minister commended the Board and management of the OCC, and its committed building and trade workers, for ensuring the project remained on time to open in April 2011 and within budget.

“Based on the conventions on the books to date, total tax revenues generated from these events will exceed $65 million,” said Jim Durrell, Chair of the Board, OCC. “We are grateful to the Province of Ontario, the Government of Canada, and the City of Ottawa for their investment in the largest redevelopment in years in our region. This could not have come at a better time.”

As of today, the new Ottawa Convention Centre is holding space for 80 conventions. Ten percent of all these bookings will attract delegates from outside Canada.

The budget for the new facility is $ 180 million. The Province of Ontario and the Government of Canada each provided $50 million in funding, and the City of Ottawa $40 million.

The Ottawa Convention Centre is an agency of the Province of Ontario.