Tradex Tender, Letter to the Editor
Photo: Tradex's interior, 120,000 square feet of column-free exhibition space, nine turn-key access bays, and two concessions with a 500-seat capacity. Source: Tourism Abbotsford Society.
Outlined below is my unsubmitted opinion letter to The Abbotsford News Editor. While completing my investigative research for my working financial notes, the City of Abbotsford announced a new operator for Tradex, making my opinion piece and research a moot point.
Related: Opinion: Letter to Candidates for Mayor and Council - October 13, 2022
= = Draft Opinion Letter to the Editor from February 2022 = =
Suggesting Tradex is a cost to taxpayers or does not generate revenue for our community is disingenuous.
Tradex, operated by the Tourism Abbotsford Society (TAS), is cost-neutral. TAS and PavCo, the provincial crown corporation that gifted Tradex to the City, have contributed an estimated $6.1 million since 2000 to the City, including airport road upgrades. Those proceeds are at the City's disposal to offset taxpayers' costs amortized over a long-term time horizon. TAS has invested over $1 million in operating profits to upgrade the venue contributing to an appraised building value of about $6 million while financially supporting City and tourism product development initiatives since September 2003, with an estimated $2.1 million of in-kind contributions. Tradex adds $12.7 million in GDP, $8.8 million in labour income with 464 jobs created and $19.3 million in direct local spending.
If Tradex ceased to operate as an event venue, 24 trade and consumer shows would be lost, not including significant private events, downsizing of community fundraisers and outdoor parking lot events. Tradex is a custom-built event facility offering 120,000 square feet of column-free exhibition space, nine turn-key access bays, and two concessions with a 500-seat capacity. No other public facility in Abbotsford provides these features or has suitable availability.
In an emergency, Tradex is a critical asset to support logistics staging for the airport's designation as the military's alternate and emergency control centre if Vancouver Airport becomes non-operational. This designation by the British Columbia Inter-Agency Emergency Preparedness Council was a consideration for provincial and federal taxpayer funding to extend the airport's main runway and construct a new taxiway.
There is ample land available for lease and development on the airport property. Yet, the City is potentially letting a for-profit company de-risk its construction costs using a strategic public building at the expense of our economy, community enjoyment and emergency preparedness. If the private sector identifies an opportunity, it can lease airport land and construct a facility, generating revenue for the City.
The City should ask how to expand our community's Tradex event portfolio and identify what resources TAS needs to make it happen.
Ross F. Brown
= = =
Keywords: Letter, Editor, Abbotsford, News, Tradex, tender, sale, lease, operation, operations
Tradex, operated by the Tourism Abbotsford Society (TAS), is cost-neutral. TAS and PavCo, the provincial crown corporation that gifted Tradex to the City, have contributed an estimated $6.1 million since 2000 to the City, including airport road upgrades. Those proceeds are at the City's disposal to offset taxpayers' costs amortized over a long-term time horizon. TAS has invested over $1 million in operating profits to upgrade the venue contributing to an appraised building value of about $6 million while financially supporting City and tourism product development initiatives since September 2003, with an estimated $2.1 million of in-kind contributions. Tradex adds $12.7 million in GDP, $8.8 million in labour income with 464 jobs created and $19.3 million in direct local spending.
If Tradex ceased to operate as an event venue, 24 trade and consumer shows would be lost, not including significant private events, downsizing of community fundraisers and outdoor parking lot events. Tradex is a custom-built event facility offering 120,000 square feet of column-free exhibition space, nine turn-key access bays, and two concessions with a 500-seat capacity. No other public facility in Abbotsford provides these features or has suitable availability.
In an emergency, Tradex is a critical asset to support logistics staging for the airport's designation as the military's alternate and emergency control centre if Vancouver Airport becomes non-operational. This designation by the British Columbia Inter-Agency Emergency Preparedness Council was a consideration for provincial and federal taxpayer funding to extend the airport's main runway and construct a new taxiway.
There is ample land available for lease and development on the airport property. Yet, the City is potentially letting a for-profit company de-risk its construction costs using a strategic public building at the expense of our economy, community enjoyment and emergency preparedness. If the private sector identifies an opportunity, it can lease airport land and construct a facility, generating revenue for the City.
The City should ask how to expand our community's Tradex event portfolio and identify what resources TAS needs to make it happen.
Ross F. Brown
= = =
Keywords: Letter, Editor, Abbotsford, News, Tradex, tender, sale, lease, operation, operations