uOttawa releases study on economic impact of the Senators
The University of Ottawa released an economic impact study today that profiles the impact of Senators Sports and Entertainment on the Ottawa-Gatineau region. The study focused on the tangible impact of the organization by incorporating the impact of events (hockey and non-hockey) at both Canadian Tire Centre and the Sensplex facilities, as well as other measurable impacts made by the Senators, the Sens Foundation, the Rink of Dreams, and more.
The results have shown that SSE has an annual economic impact on the city of $204 million with roughly $100 million of that in the form of direct spending. It also estimates that the club has generated approximately $3 billion in revenue for the region since its return to the NHL in 1992 with direct revenue accounting for more than half of that figure.
The official release, courtesy of the University of Ottawa, contained comments from the study's lead researcher, Norm O'Reilly, Sens President Cyril Leeder and Ottawa Tourism President and CEO Noel Buckley.
Here's what they had to say on uOttawa's findings:
“In recent years, the importance of demonstrating the value of a professional sport club has become increasingly evident,” stated Norm O’Reilly, lead researcher at the University of Ottawa. “The estimate of $204 million calculates direct, indirect and intangible impacts. We consider it to be conservative – with the ‘true’ number being potentially higher, but certainly not lower.”
“The economic impact study conducted by the University of Ottawa reveals that the Senators are more than a hockey team. We are a major business partner to the Ottawa-Gatineau area that provides economic value, reaches a wide variety of individuals and businesses, and helps increase the success of our entire community,” said SSE President Cyril Leeder. “We are proud to see the depth, magnitude and positive results of the University of Ottawa study. We recognize, as well, that with such a major economic impact comes a significant responsibility. We are committed to continuing to find new ways to demonstrate our contribution and create economic impact and prosperity for our region.”
“It’s sometimes easy to overlook the true value of the Senators because we are so focused on what happens on the ice. The Senators’ SSE impact goes much further than as an economic driver, and provides many secondary benefits related to our city’s image and brand,” said Ottawa Tourism President and CEO Noel Buckley. “Ottawa is the best place to live in Canada and SSE helps create exposure for our city through their media coverage and special initiatives in the region.”
Those interested in reading the study in its entirety can find it via the University of Ottawa here.
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