CNE to split from City of Toronto
Posted January 27, 2012 3:57 pm.
This article is more than 5 years old.
The Canadian National Exhibition has struck a deal with the city to make itself independent.
A deal was reached Friday between the Ex’s operators and the city-owned lakefront property.
The CNE will have to pay higher rent for the 18-day summer fair but will get to keep all profits and keep ticket prices the same cost by negotiating their own deals with suppliers.
Rent will rise from $2.4-million to $3.2-million.
City council will still have to agree and give approval on March 5 and 6.
The decision was part of the consulting done last year by firm KPMG to find services the city could cut.
Before, the CNE turned over it’s profits to the city, which was around $5-million over the last 10 years.
In return, the city would cover any losses.
The fair has only lost money once in the last decade when SARS and the blackout hit Toronto in 2003.
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Exhibition Place, Toronto, Ontario M6K 3C3 Tel: (416)263-3600
THE BOARD OF GOVERNORS OF EXHIBITION PLACE
Independence of the
Canadian National Exhibition Association
For Immediate Release……………………….……………………………………. January 27, 2012
Toronto – At meetings today and yesterday, the Board of Governors of Exhibition Place and the
Board of Directors of the Canadian National Exhibition Association (CNEA) approved the terms
of a Master Agreement for a new relationship in which the CNEA will become independent from
both the Board of Governors of Exhibition Place and the City of Toronto in 2013. Toronto City
Council will be asked for approval of this new agreement at their March 5-6, 2012 meeting.
The general direction to have an independent CNEA has been endorsed by the CNEA Board of
Directors, the Board of Governors of Exhibition Place, and City Council and was recommended
by KPMG in its 2011 Core Service Review. The new agreement is among the early
recommendations of the Core Service Review to be acted upon.
Chair of the Board, City Councillor Mark Grimes stated, “The independence of the CNEA is
good for both the CNEA and Exhibition Place. The agreement will protect the Board of
Governors and the City against any negative financial consequences and at the same time
allow the CNEA to reach financial and organizational stability for the new independent
organization.”
It will be beneficial for the CNEA to be independent from the City of Toronto to be able to
determine and implement consumer strategies and fiscal decisions that are made in the interest
of the CNEA and its visitors, as experts within the fair business.
“This is an extraordinary opportunity for the Canadian National Exhibition,” stated Brian Ashton,
President of the Canadian National Exhibition Association (CNEA). “We believe that as an
independent business we can flourish and present an annual fair that will make Toronto and
Canada proud!”
About the CNEA
The Canadian National Exhibition (CNE) is Canada’s largest fair and one of the top 10 fairs in
North America. Founded in 1879, the CNE celebrates its 134th year in 2012, when it takes
place from August 17th to September 3rd. Each year over the course of its late summer 18-day
run, the CNE attracts between 1.3 and 1.4 million people. On average, it generates an
economic impact of $58.6 million on the Greater Toronto Area and $80 million on the province
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Exhibition Place, Toronto, Ontario M6K 3C3 Tel: (416)263-3600
THE BOARD OF GOVERNORS OF EXHIBITION PLACE
of Ontario each year. For the past two consecutive fairs, the CNE has been awarded Eco Logo
certification, confirming it as the “greenest” fair in North America, and the most “environmentally
friendly” large scale event on the continent. For further information, visit TheEx.com
About Exhibition Place
Exhibition Place is Canada’s largest entertainment venue, attracting over 5.3 million visitors a year.
The 192-acre site is an integral component of Toronto and Ontario’s economy, particularly with respect
to conventions, sport, festivals, recreation, culture and tourism. Located at Exhibition Place is the
award-winning Direct Energy Centre, Canada’s largest exhibition and convention centre, and Allstream
Centre conference venue which is targeting LEED Silver certification. Since 2004, Exhibition Place
has undertaken an environmental stewardship initiative, entitled GREENSmart; which includes the
promotion of sustainable development, environmental initiatives and leading edge green technologies
and practices across the site. Our environmental initiatives have resulted in award winning recognition
across North America, such as the Platinum Waste Minimization Award from the Recycling Council of
Canada and have established Exhibition Place as a world leader in energy-efficient technologies.
www.explace.on.ca
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Contacts:
Dianne Young
CEO, Exhibition Place
416-263-3611
dyoung@explace.on.ca
Brian Ashton
President, CNEA
416-263-3800
bashton@theex.com
