Organizers of the Canadian National Exhibition (CNE) say the popular summer tradition could end permanently if they don’t receive government aid.
In a press release on Thursday (September 3), organizers said the cancellation of the 18-day event due to the pandemic resulted in an over $6 million loss.
They added the fair is on track to lose more than $35 million in potential earnings amounting to an estimated 95 per cent drop in potential revenue.
The 142-year-old fair, which has only cancelled once previously on account of the Second World War, is run by the CNE Association (CNEA), a not-for-profit agricultural organization.
The event is run without financial support from the government – revenue generated is reinvested into the next year’s fair.
“Government relief programs have largely excluded fairs, exhibitions, and agricultural societies, and have not considered the unique challenges of our industry – most important of which is that fairs rely on 90-plus per cent of its annual revenue on a few days or months of the year,” the CNE’s executive director, Darrell Brown, said in a statement. “Unlike the typical funding recipients of arts and cultural sector grants that support museums, galleries and attractions that are able to generate year-round revenue streams.”
CNE organizers say they plan to secure a loan and are tapping into COVID-19 economic support programs to “bridge its financial gap.” They also say, based on historical precedent, attendance will surge to “double-digit increases” in 2021.
However, the event will need “alternative sources for funding over several years in order to fully recover” from the $6 million deficit.
“The total financial losses to the CNE as a result of the pandemic are still uncertain, and likely to increase as the pandemic continues to affect businesses, public events and large-scale gatherings,” CNE President John Kiru added. “We also have to factor in considerations such as how the consumer behaviour of our visitors might change; and putting safety first in all aspects of our planning.”
At his daily press briefing, Ontario premier Doug Ford said provincial bailout money is possible, but other levels of government must step up too.
“That would fall under the ministry of tourism,” Ford responded when asked if the province would earmark funding for the CNE. “I’m willing to help out. If they city is willing to help out and we get the feds to help out we can all pitch in. It’s critical that we keep the CNE going.”
Next year, the CNE will run from August 20 to September 6.
