Extension of the Formula 1 Grand Prix du Canada in Montréal until 2029

Government of Canada announces that it intends to extend its support for an additional 5-year period

MONTRÉAL, June 9, 2017 /CNW Telbec/ - Canada Economic Development for Quebec Regions (CED)

The Government of Canada today announced that it intends to grant up to $36.2M in financial assistance to Montréal's Société du Parc Jean-Drapeau (SPJD) so that it can acquire the rights to hold the Formula 1 Grand Prix du Canada from 2025 to 2029, inclusively.

The announcement was made by the Honourable Marc Garneau, Minister of Transport, on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CED.

As visitors flock to Montréal to celebrate its 375th anniversary and to take part in the Formula 1 Grand Prix du Canada festivities, the Government of Canada today confirmed its commitment to supporting the Canadian tourism industry. Last month, the Honourable Bardish Chagger, Leader of the Government in the House of Commons and Minister of Small Business and Tourism, unveiled Canada's New Tourism Vision. According to this, tourism is an excellent opportunity for economic diversification at the national and regional levels. The Government of Canada's investment in sports and cultural events is an effective way to support actions that generate significant economic and media benefits in the regions that host them.

Extension of the Government of Canada's financial support for the Formula 1 Grand Prix du Canada will result in major economic spinoff, helping maintain and create jobs for the middle class.

As part of the extension of the agreement, the Government also wants to make sure that all measures are taken to prevent and combat sexual exploitation and all illegal activities that occur during the Grand Prix festivities.

The Government of Canada also announced that CED had been asked by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, to work closely with the Royal Canadian Mounted Police, the Canada Border Services Agency, Public Safety Canada and Status of Women Canada to bring the responders concerned together and implement an action plan to prevent and combat sexual exploitation and human trafficking.

The action plan's security measures include a Quebec-wide anti-prostitution squad and a special police strategy for the Grand Prix, the Griffon initiative. The Government's goal is to make the Grand Prix even safer for everyone.

The 2017 edition of the Formula 1 Grand Prix du Canada takes place this weekend at the Circuit Gilles-Villeneuve.

Quotes

"Tourism is an essential component of the Canadian economy. Our Government is confident that renewing its funding agreement with the Montréal's Société du Parc Jean-Drapeau to hold the Formula 1 Grand Prix du Canada will provide significant global visibility for Montréal, Quebec and Canada. The extension of this agreement is also excellent news for SMEs in accommodation and food services and for the entire Montréal business community, which benefits directly from the significant economic spinoff from the Grand Prix."

The Honourable Navdeep Bains, Minister responsible for CED

"The prestige associated with an international event like the Formula 1 Grand Prix du Canada increases the visibility of Montréal, Quebec and Canada here and abroad. This event is an exceptional showcase, helping confirm Montréal's reputation as a choice destination for tourism."

The Honourable Marc Garneau, Minister of Transport

Quick facts

• The Formula 1 Grand Prix du Canada is one of the largest tourism events in the country. It is broadcast in over 150 countries to some 310 million viewers worldwide, including 5.2 million in Canada alone.
• In 2015, more than $40 million was generated in economic spinoff by the Formula 1 Grand Prix du Canada in Montréal.
  The Canadian tourism industry employs more than 1.7 million people across Canada.
• CED is one of six regional development agencies under the responsibility of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
• Government of Canada support is conditional on the extension of the current agreement among CED, the SPJD and the other funders concerned until 2029.
• Since 2015, support for the Formula 1 Grand Prix du Canada is the result of collaboration between the governments of Canada and of Quebec, the City of Montréal and Tourisme Montréal.

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SOURCE Canada Economic Development for Quebec Regions

Delphine Denis, Office of the Honourable Marc Garneau, Minister of Transport, Ottawa, [email protected], 613-991-0700; Media Relations, Canada Economic Development for Quebec Regions, Tel.: [phone], Email: [email protected]