Global Spectrum is guaranteeing to meet its 2010 budget for the South Okanagan Events Centre, Penticton Trade and Convention Centre and Memorial Arena. “The event centre for this calendar year will meet its budget, not one penny over,” said Coun. Mike Pearce, chair of the SOEC advisory committee. The ongoing projected operating costs of those facilities is $1.773 million. Pearce said in the last quarter concert events have been shaved back because artists expect an “enormous amount of money from any venue they go into.” He said depending on the artist, the costs could be anywhere from $280,000 to $885,000. These prices then impact the consumer because tickets prices have to be elevated.
“That is what these artists all over North America have been doing. That is why Kelowna stopped putting on so many and why we stopped putting out so many for the last quarter. The reason being until we put a boycott on them, they wont start to bring their prices down or come to a more meaningful deal because we are carrying all the charges on the buildings. This is just not in Penticton — it’s every arena, it’s all the same,” said Pearce. “We have to open the place though. It’s not there to not be used, but it has to be reasonable so we are not losing the taxpayer a lot of money.” Annette Antoniak, city manager, said the SOEC brings about $35 million in economic spinoff to the community. She said these numbers came from Global Spectrum as “conservative” figures. Antoniak said a study done by Okanagan Hockey School estimates their spinoff as $13 million, the trade and convention centre tracks around $10 million, and it was estimated the Vees bring in around $10 million.
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