Formula 1 Grand Prix du Canada: Great news for the city’s economy, attractiveness and reputation

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Added on 7 June 2014 in Press releases

Montréal, June 7, 2014 – The Board of Trade of Metropolitan Montreal welcomes the conclusion of an agreement between Formula One Managementand the organizers of the Formula 1 Grand Prix du Canada to ensure the event will be held in Montréal for the next 10 years. Keeping this sporting event in the city – the largest tourism event in Canada – is excellent news for the economy, attractiveness and reputation of Montréal and the metropolitan area.

“Over the years, the Grand Prix du Canada has become strategic in positioning the city on the international stage,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “With some 300,000 visitors and broadcast in almost 200 countries, it is an extraordinary showcase that benefits a number of sectors of the city’s economy. For the hotel and restaurant industry in particular, the Grand Prix is one of the high points of the summer, which, along with our major events and festivals, creates jobs.”

“After the uncertainty of recent years, the conclusion of a ten-year agreement is something to celebrate,” Michel Leblanc said. “On top of providing major economic spinoffs for the next decade, this long-term agreement sends a positive message to potential investors. The confirmation that the Grand Prix will be held in Montréal also contributes to our international reputation as a city of celebration, as well as a feeling of pride among residents.”

“We should applaud the cooperative and negotiation efforts of the provincial and federal governments, the Ville de Montréal, and particularly Tourisme Montréal, in finalizing this strategically important agreement for the city,” Michel Leblanc said.

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.

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Source: 
Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
mllambias@ccmm.qc.ca

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