Sunday, February 1st-1.3°C
24736
24977

Shania Twain centre attracts debt

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.

The Canadian Press


Read more Business News

23916


Recent Trending




Today's Market
S&P TSX14673.48+37.521
S&P CDNX676.81+9.70
DJIA17164.95-251.90
Nasdaq4635.24-48.167
S&P 5001994.99-26.26
CDN Dollar0.7856-0.0067
Gold1286.60-5.10
Oil49.60+3.16
Lumber322.50+0.70
Natural Gas2.87-0.111

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.400.00
Cantex0.035-0.005
Anavex Life Sciences0.174-0.006
Metalex Ventures0.040.00
Russel Metals23.42-0.16
Copper Mountain Mining0.99+0.01
Colorado Resources0.150.00
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.050.00
Mission Ready Services0.2350.00

 



24698

FEATURED Property
21375372153 Serrento Lane
2 bedrooms 3 baths
$409,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Leaving a job: changing careers

Many people, who find themselves out of work and with time on their hands, and money in their pockets due to lay-off, start thinking about a career change. If you weren’t happy with the directio...


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...

_








Member of BC Press Council


24975