Yes, Calgarians will have to make an investment of $390 million. But that investment unlocks an investment of over $4 billion from our partners at the federal and provincial governments and the IOC and private sponsors into our local economy.
This is a badly need investment in our local economy that Calgary would not get otherwise.
These funds will be used to renew our existing infrastructure, build two badly needed facilities and increase affordable housing.
The benefits include:
- Construction of a new, centrally located $320 million multi-sport fieldhouse that will be used after the games for indoor soccer, track and field and other sports. The multi-sport fieldhouse is the number one unfunded priority on the City’s recreation wish-list. Edmonton has four fieldhouses!
- Calgary and Canmore both have pressing needs for housing. The bid allocates $490 million to build 1,800 units.
- A renovated Olympic Oval, McMahon Stadium, WinSport, Nakiska, and Canmore Nordic Centre, all of which require upgrades for Calgarians’ enjoyment for another 30 years.
- A $50 million new mid-sized community arena complex which can seat 5,000-6,000 people to replace two existing arenas that have reached the end of their useful life.
- A Legacy Fund to help maintain these facilities for another generation of Calgarians.
Essentially for the cost of the fieldhouse and the community arena complex, Calgary would get to host the Olympics!
On top of all of that, Calgary's fiscally responsible bid budget includes well over $1 billion in contingency funds, protecting Calgarians against any future cost-overruns.
Read about all of the key benefits
There are six key reasons we believe that hosting the Games will be good for Calgary and for Canada. Learn about all of them: