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May 25, 2006
Toronto City Council overwhelmingly gives go ahead to bidding for Expo 2015 Bid Proposes Early Transformation of Port Lands, Creation of 143,000 Jobs, Delivery of $8.1-Billion in GDP
  
Toronto City Council today voted overwhelmingly to mount a bid to host a major World Expo in 2015. If Toronto’s bid is successful, Expo 2015 will take place on 400 acres of transformed Port Lands, surrounded on three sides by water and with the theme The Spirit of Ingenuity.

“The world is already here in Toronto and in 2015, under the banner of the Spirit of Ingenuity, we will celebrate our humanity and our achievements,” said Toronto Mayor David Miller. “The World Expo 2015 is a tremendous opportunity not only for Toronto but for Canada, Ontario and the GTA as well. It will accelerate revitalization of our waterfront and create legacies during the bid as well as after the world’s fair in the areas of arts, infrastructure and community amenities.”

This council vote represents the culmination of more than a year of due diligence carried out by the Toronto 2015 World Expo Corporation (Expo Corp), a subsidiary of the Toronto Economic Development Corporation (TEDCO), which included two rounds of public consultations and 13 expert studies. An economic feasibility report prepared by PricewaterhouseCoopers LLP projected that the World Expo would generate $8.1-billion in GDP and create 143,000 jobs in Toronto. More than 40-million visits are expected, with half coming from outside of Canada.

“This is going to provide a huge economic shot in the arm - for every $1 invested, more than $7 will return by 2015 and many more dollars will flow in the decades that follow,” said Councillor Brian Ashton, Chair of the Toronto 2015 World Expo Steering Committee. “But a World Expo is about more than money. It’s about catapulting ahead by 15 years the transformation of the Port Lands. It’s about creating a legacy of new public transit, new green spaces and public parks, more public art and iconic buildings, and 1,900 new units of affordable housing. Most of all, it’s about bringing all of the people of Toronto together to dream big, dream smart and make that dream come true.”

With the overwhelming approval of the bid, the next step is for the City of Toronto to seek approval from the provincial and federal governments. Regulations set out by Bureau International des Expositions (BIE) require that the official letter of candidature be submitted by the federal government on behalf of the City of Toronto. On May 3, the Turkish government submitted a bid on behalf of Izmir thereby setting in motion a six-month clock requiring other potential competitors to submit their letters by November 3.

“This opportunity to accelerate and deliver our waterfront has received a tremendous response to date not only from the BIE but more importantly from Torontonians,” said Mayor Miller. “City Council is overwhelmingly behind the bid, the people of Toronto are behind the bid, and I am confident that the Provincial and the Federal governments will join us in enthusiastic support. If we all work together in partnership we can all win from this bid.”

A separate not-for-profit corporation will be established and led by a board of directors, to undertake the bid submission and advancement.

The BIE will select the host site for the 2015 World Expo at its meeting in Paris in February 2008. Major (Registered) World Expos take place every five years. The next World Expo will take place in Shanghai in 2010. Canada’s last major Expo was the extremely successful Expo ‘67 in Montreal. A smaller (Recognized) but equally successful Expo was held in Vancouver in 1986.

The Toronto 2015 World Expo Corporation is a subsidiary corporation of the Toronto Economic Development Corporation. TEDCO is designated as Toronto’s principal redevelopment entity.


Media contact:

Laurie Carmichael
Devon Group
416-504-5151 ext. 355
lcarmichael@devongroup.ca



 

 

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