We are very pleased to share that city council last night voted in favour of investing $4 million over eight years in the new museum project.
Over the last 20 years, the City of Peterborough has provided one-time, operational and transitional funding. Last night’s decision, however, signalled the beginning of an even more significant partnership – one that solidifies the synergies between a nationally-recognized museum and its hometown.
On behalf of The Canadian Canoe Museum family, we thank council for this complete commitment – it is indeed fundamental to the future of the new museum.
With the investment comes a demonstration of strong support and local leadership that will be a signal to potential funders and private donors across the country. It will also allow the museum to leverage funds from the federal government.
The museum recognizes the significance of the investment from council and the many priorities counsellors had to consider. We appreciate that city staff and council chose to see the new museum as part of a much bigger picture – and as a contributor to a vibrant, healthy community. We will lead, partner and make an impact through economic growth and development; arts and culture; education; and recreation.
Over the next five years, the overall estimated economic impact of the museum’s operations and its redevelopment project will be $86 million – $71.6 million of that will be related to the redevelopment project. That $86 million will support an estimated 820 jobs – 682 of those will be related to the redevelopment project.
Once complete, the new museum will be a tourist attraction like no other – a premier destination at the Lift Lock on the Trent-Severn Waterway and it is estimated that visitors will spend an estimated $5.6 million every year in the city.
The City of Peterborough joins the Province of Ontario and the Government of Canada, along with several early donors, who have demonstrated their leadership with investments in the new museum. The provincial government has contributed $9 million and the federal government $1.4 million. A second funding application for $13.6 million is before the federal government right now.
Thank you to Joanne Brown, Dale and Bernice Standen, and Bill Lockington for their delegations at last night’s meeting. Your presentations were compelling and your passion was contagious. Similarly, thank you to all those who joined us at City Hall – we had an incredible showing of support. Finally, our gratitude goes out to all those locally, and from across the country, who mobilized to tell the museum’s story over the last couple of weeks.
We often make reference to the incredible momentum of the new museum project. Today, this momentum continues to build. At this pivotal point in our journey, we thank the City of Peterborough for propelling us forward.
Carolyn Hyslop, General Manager
John Ronson, Chair, Board of Directors