Lethbridge Taxpayers will be on the Hook if Calgary Gets to Host the 2026 Winter Olympics – Are there “Trickle Down” Benefits? (Part 1)

While most will agree the 1988 Calgary Winter Olympic Games was an overall success and good for the City, Alberta and Canada, the bidding cost alone for the 2026 Games will be at least $30 million and the expenses for hosting the Games if Calgary is chosen, could top $8 billion, including interest, considering all three levels of Government are running deficits – hosting the 1988 Games cost less than $1 billion and turned a profit. The Alberta and Federal Governments have made their contribution to the 2026 Calgary Olympics conditional on a Nov 13, 2018 City of Calgary plebiscite. The non-binding plebiscite will offer two choices – for or against Calgary hosting. There are other key points to be sorted out as the City can’t rely completely on its 1988 Winter Olympic infrastructure – a new hockey arena and other facilities are needed – and there are still questions about hosting some events outside of Calgary – possibly Whistler, B.C., and Edmonton. While hosting the 2026 Olympics and Paralympic Winter Games will no doubt generate a lot of economic investment and activety in the City of Calgary, the speaker will argue that all taxpayers will end up covering expenses to the tune of several billion dollars for operations, infrastructure and paying off the “mortgage” for such Olympics, including a whopping $1 billion for security measures He will also address whether or not Albertans get “bang for their buck” from such investments and if these expenses will be making proper and lasting use of tax dollars? Speaker: Tom Sindlinger Tom Sindlinger is a Canadian Economist with a focus on the marketing of natural resources and transportation, and governance. He is a former elected PC member of the Alberta Legislative Assembly and has successfully completed 18 international projects in 12 countries for both private and public entities (such as the Canadian International Development Agency; The National Democratic Institute in Washington; and, The Jimmy Carter Center in Atlanta). Moderator: Dylan Purcell Date: Thursday, September 13, 2018 Time: Doors open 11:30 am, Presentation 12 noon, buffet lunch 12:30 pm, Q&A 1 – 1:30 pm Location: Royal Canadian Legion (north door) 324 Mayor Magrath Dr. S. Lethbridge Cost:$14 buffet lunch with desert & coffee/tea/juice or $2 coffee/tea/juice. RSVP not required