Economic Impact

By investing in cultural and heritage events that attracted over 2.7 million visitors between 2002 and 2005, OCAF has made a significant contribution to cultural organizations and cultural tourism in communities across Ontario.

The Fund also helps generate an economic return to Ontario and new tax revenues for governments. In fact, a number of OCAF clients were included in a 2003 research study of the Economic Impacts of 97 Festivals and Events in Ontario .

This study, conducted in partnership with the Ontario Trillium Foundation and the Ontario Arts Council, showed that “the 97 festivals and events funded by OTF, OAC and OCAF contribute nearly $80 million to the province’s Gross Domestic Product (GDP).

The 97 festivals and events also generate over $30 million in taxes for all levels of government and help create 2,600 jobs and over $50 million in wages and salaries.” The $30 million tax impact includes $12 million in provincial taxes.

These economic impacts are generated by small, medium and large organizations alike. A second report (Economic Impact Analysis by Size of Festival ) showed that:

  • 39 small festivals and events (expenditures up to $75,000) contributed about $13 million to the province’s Gross Domestic Product (GDP) and generated $5.2 million in taxes for all levels of government. They also helped support 420 jobs and $8.5 million in wages and salaries.
  • 37 medium festivals and events (expenditures between $75,000 and $300,000) contributed almost $28 million to the province’s Gross Domestic Product (GDP) and generated about $11 million in taxes for all levels of government. They also helped support 900 jobs and over $18 million in wages and salaries.
  • 21 large festivals and events (expenditures over $300,000) contributed over $38 million to the province’s Gross Domestic Product (GDP) and generated $15 million in taxes for all levels of government. They also helped support 1,250 jobs and $25.5 million in wages and salaries.