Pan Am Games infrastructure projects boosting Ontario’s economy
A recent study by CIBC World Markets suggests southern Ontario’s economy can expect to benefit for years to come from the dozens of infrastructure projects being built for the Toronto 2015 Pan Am Games.
The Games, which consists of 48 events in 17 municipalities in the Golden Horseshoe, is being billed as the largest multi-sport event ever to be held in Canada. It is expected to draw more than 7,000 athletes and 10,000 total participants from 41 countries.
Capital spending has increased in Ontario by about $400 million from 2011 to 2013, with a great deal of it going towards building or upgrading more than twenty venues for the Games, and redeveloping the West Don Lands, which will be home to the athletes village.
Located near Toronto’s waterfront, the 35-acre athletes’ village will be transformed into a planned neighbourhood development with affordable housing after the Games.
All told, the Games are expected to create 26,000 new jobs.