A recent economic analysis of the economic impact of the South Okanagan Events Centre says the complex generated almost $35 million in economic activity in a one year period.

(STEVE ARSTAD / iNFOnews.ca)

PENTICTON - The South Okanagan Events Centre is an economic driving force in the community, according to a consultant's report.

An economic analysis conducted by a consultant hired by the City of Penticton found the events centre produced $34.8 million in economic activity in the region over a 12-month period between June 2016 and May 2017.

The analysis concluded the events centre and associated venues including the Memorial Arena, the Penticton Trade and Convention Centre, outdoor areas and the Okanagan Hockey School Training Centre, generated $24.9 million in direct spending with the rest coming from employment wages, taxes and all rounds of spending related to events centre activity.

The analysis broke down the direct spending into four groups based on geographical origin, and also looked at the overall economic impact generated by the centre, using a model operated by B.C. Stats. Direct spending takes into account all money spent by participants, event attendees, event producers and promoters.

Economic Planning Group consultant Dave Hall says those attending events spent more than $1 million on accommodation, while those attending functions at the Penticton Trade and Convention Centre spent more than $9 million on hotel rooms. He noted 90 per cent of those attending the convention centre stayed in hotels.

Hall admitted the estimates were based largely on “a series of assumptions” regarding such things as overnight stays and visitor spending, with data regarding local spending coming from Destination B.C. and the Thompson-Okanagan Tourism Association.

He says Penticton’s events centre is unique in a few ways.

“When the convention centre was first built, it was the only one in the province beyond Victoria and Vancouver that had a dedicated convention centre. As far as the events centre is concerned, (Victoria) has one about the same size as Penticton’s... You are quite unique in the mix of amenities that you have here.”

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