Great results for Sherbrooke’s Canada Games
Ifthe Lord had sponsored an economic benefits study of the Miracle of the multiplication of bread, our guess is that we would be still eating some today, numbers in these studies being almost impossible to really calculate. So we will take with a grain of salt the final number of $165 million presented on Monday at the final press conference, General Manager Luc Fournier being bewildered at the precision of some data presented to the last dollar. It’s well known that the hospitality sector in Sherbrooke and in the region was quietly complaining that the promised money did not show up to all. National res-
taurant chains got a huge boost while local and even Quebec ones (“What’s Saint-Hubert?”) not getting all they expected. The study carried out under the Canadian Sport Tourism Alliance’s Sport Tourism Economic Assessment Model (STEAM) indicates that Sherbrooke 2013 distinguished itself exceptionally with total benefits of $165.5 million for all of Quebec, which largely surpasses the average of $100 million to $120 million from the last six editions of the Canada Games. The economic benefits for Sherbrooke and the region will have been $110.7 million. The direct, indirect, and spinoff effects will have helped create and/or maintain 1111 full-time jobs, representing $53.5 million of payroll for Quebec and $36.5 million for Sherbrooke. Considerable tax income of $29.7 million was created, $13.4 million of which was returned to the coffers of the federal government, $12 million to the provincial government, and $3.8 million to the City of Sherbrooke.
So while these numbers must be taken with the usual grain of salt, the tangible ones are impressive. The preliminary financial statements at March 31, 2014, show a surplus likely in the order of $510 000 on a budget of $51.5 million. This is a conservative evaluation that accounts for potential bad debts, sponsorships and donations receivable, and remaining activities until full dissolution of the Host Society.
The Deputy CEO, Planning and Competitions, and Interim CEO, Michel Dussureault, said he was more than satisfied with the results. “This success is due to
strict financial control and monitoring—and to the efforts and ingenuity of the service managements and management committee in implementing efficient and less onerous logistical solutions.”
In terms of the Games’ financial legacy and according to the wishes of the Board of Directors as expressed last December, all monies raised in donations from businesses and individuals will be added to the $1 million already accounted for in the operating budget. Therefore, the minimum that will now be transferred to the Canada Summer Games 2013 Fund is $1.7 million, to which the budget surplus will now be added, as stipulated in the legacy plan, likely increasing the Fund to over $2 million.
“I am especially pleased that we were able to double the amount originally forecast; this is a legacy that will have a positive impact on the development of athletes of all ages for several decades,” said Games’ President Monique F. Leroux.
Tom Allen, the real president of the Games, used what he knows best to present his team, football analogy. Maybe catching a wide pass was the best one to describe the Games: they’re always a gamble but when they succeed they are game changers; this was the case in Sherbrooke.
Canada Games Counciil president and former Olympian, Guylaine Bernier, Desjardins’ President Monique F. Leroux, president of the Sherbrooke Games, Sherbrooke’s mayor, Bernard Sévigny who acknowledged the work done by his predecessor, Jean Perreault, and Tom Allen, who was in charge daily as CEO.
Deputy General Manager of the Sherbrooke Canada Games,
Lynn Blouin, seen here at the press conference on Monday, was thrilled with the final count.