Feb 1, 2013 / 9:29 am
A tourist attraction celebrating country-pop singer Shania Twain has officially become a $10-million money pit of taxpayer dollars.
The Shania Twain Centre in this northern Ontario community permanently closes its doors today, barely a dozen years after its grand opening, and will be demolished to become part of an open-pit gold mine.
A sinkhole of taxpayer money, the centre consumed some $10 million in government funds for its construction in 2000-2001, and racked up more than $1 million in operating deficits in the years since.
Grant applications to the Ontario and federal governments in the 1990s projected annual attendance of 50,000 tourists by 2005.
Twain, now 47, grew up poor in Timmins, and got her fledgling start singing in local bars before striking it rich on the world stage in 1995.
But the sleek, modern structure, featuring displays of Twain memorabilia along with gold-mining artifacts, has drawn no more than 15,000 people in any year.
In the end, every resident of this hardscrabble, century-old mining town of 47,000 was shelling out $7 a year just to keep the lights on. And by 2010, each visitor to the centre was being subsidized to the tune of $33.72.
"We probably should have taken a better look at the numbers to ensure the expectations could be met," Mayor Tom Laughren said of the planning that happened long before he took office.
A 2011 financial analysis showed that Timmins city council faced continuing operating deficits of at least $233,000 a year no matter what future business plan it chose, whether expansion or scaling back.
So council last month announced a deal to sell the property to mining firm Goldcorp Inc. (TSX:G) for $5 million, just half of the tax dollars spent for construction.
Read more Business News
|QHR Technologies Inc||1.20||+0.01|
|Anavex Life Sciences||0.305||-0.01|
|Copper Mountain Mining||1.54||-0.04|
Big Picture Bank earnings and upbeat economic news highlight an active week In contrast with last week’s quieter, U.S. holiday-shortened week, the first week of December was a comparatively acti...
This column is the last of three, for how to prove your personal injury claim. It is the piece de resistance of the trilogy, the Chuck Norris piece – the final say! As mentioned in the first two...
Recently I recorded a video series for my keynote speaking business. It was called from Faith to Future. In one of the episodes, I talked about the concept of using hard work to get out of a difficul...
- 'Responsible' and 'strategic' most overused words in 2013 on LinkedIn profiles
- Most actively traded companies on the TSX, TSX Venture Exchange markets
- Fortis to acquire UNS Energy for US$4.3B, including US$1.8B in debt
- Spotify launches free mobile service, also streaming Led Zeppelin catalogue
- Canada to benefit from a strengthening U.S. economy in 2014, says RBC Economics
- Oil drops one per cent on big increase in supplies of gasoline, diesel fuel
- Harvey and Bob Weinstein sue Warner Bros. over 'The Hobbit,' say they're owed share of profits
- Congressional analysis estimates budget deal would increase deficit by $41.4B in 2014-15
- Air Canada places a US$6.5 billion order
- CPPIB buys 15% stake in European health-care provider for $468.2 million
- Wynne concerned auditor's report shows generous pay at OPG drives up hydro bills
- Ukrainian opposition sees police withdrawal as a victory, rejects president's offer of talks