Agribition marks record year, mulls more innovative ideas
Last year’s Agribition posted record revenues, but also its highest-ever expenses, as the province’s premier livestock show settled into its new digs at the International Trade Centre.
“We’ve never put nearly as much into the show as we have in the past year,” said Canadian Western Agribition president Bruce Holmquist at the organization’s annual general meeting Thursday.
Last year’s financials show about $4.4 million in spending — plus a one-time expense item of $1 million to help build the International Trade Centre. But Agribition brought in more than $4.6 million in revenue to post a small operating profit of $270,000.
CEO Chris Lane said 2017 was a record-setting year in more ways than one. The show attracted 365 international buyers from 86 countries and posted $2 million in purebred cattle sales. Holmquist called Agribition a “key stepping stone” for the province’s export market, especially in livestock genetics.
Agriculture Minister Lyle Stewart agreed.
“The international guests really do come here to spend some money,” he said after his address to the AGM.
The show also earned plenty of money for Regina businesses. Lane said an independent study estimated the economic impact of last year’s Agribition at $73.6 million. About $44 million of that was spent in the Regina area.
“Agribition touches a lot of people and a lot of dollars,” he said.
Lane said the new trade centre received “excellent reviews” and brought back some who had shunned Agribition for years due to outdated facilities. But it also cost more money to operate, driving up those record costs. Lane called the transition to the new facility “the biggest and most complicated logistical challenge in the history of the organization.”
“There’s obviously the million dollars to help fund it, but it’s a more expensive place for us to be in when it comes to rent and operating expenses and labour,” he said.
Lane and Holmquist dropped a few hints about what’s in store for this year’s show. Cabaret, an attraction that hasn’t been seen since 2015, will now be back by popular demand.
“We’re going to do it a bit differently,” said Lane. “We’re going to do it after the rodeo on the dirt in the Brandt Centre, so it’s going to be a pretty good party.”
Holmquist added that attendees can expect to see the same kind of “novelty items” that drew new visitors to last year’s show. But there probably won’t be any goat yoga, an event Lane called “a huge hit.”
“Goat yoga, its future at Agribition is uncertain, but I think activities like that always draw,” he said, adding that organizers are now “spitballing ” similarly innovative ideas.
Lane said there’s room to increase attendance for 2018’s events. Visitors trended up last year, but didn’t match a high point in 2015.