The Honourable Gary Lunn, Minister of State (Sport), and B.C. Minister of State for the Olympics and ActNow BC, Mary McNeil, are pleased to announce the results of the Socio-economic Impact Study conducted by PricewaterhouseCoopers. The report points to wide-ranging positive social and economic impacts for British Columbia and Canada from the planning and hosting of the Vancouver 2010 Olympic and Paralympic Winter Games

The report covered the period of 2003 to 2008, and positive impacts were recorded in all eight areas studied. The greatest impacts occurred in employment, where more than 22,000 jobs were created; sport development, where our athletes have improved tremendously; environmental sustainability; and arts and culture. The PricewaterhouseCoopers report is part of a series commissioned by the governments of Canada and British Columbia to measure social and economic impacts of the Games.

In addition, from 2003 to 2008, the Games generated between $684 million and $884 million in real gross domestic product (GDP) to B.C. and an additional $170 million in real GDP to Canada.

"While this is just a snapshot of what has already happened, the report provides concrete evidence that the Games have given the B.C. and Canadian economies a boost," said Minister of State Lunn. "Our investments are achieving their intended results, including improved athlete performance in international competition, made-in-Canada innovations in building design, and unprecedented Aboriginal participation."

The findings of this report also demonstrate that our investments in sport are achieving the intended results. Our winter athletes are reaching new heights in performance and medal finishes.

"We've always believed that the Games would provide the catalyst for economic, social, and athletic development provincially and nationally," said Minister of State McNeil. "These results are just the beginning, and we know that once we start to measure 2009 and 2010, we'll see that British Columbia is continuing to get a powerful economic lift from the Games just when we need it most."

The report found that investments have produced up to 20,780 jobs in B.C. so far and a further 1,750 jobs across Canada through interprovincial trade.

"We believe that this comprehensive study of an Olympic and Paralympic Winter Games during a five-year period prior to the event is unprecedented," said Ed Mansfield, Associate Partner and leader of PwC's Economics and Statistics practice in Canada. "The study findings are based on interviews and inputs from a wide cross-section of organizations and communities in B.C. and Canada plus data analysis and economic modelling."

Over 800 new businesses were created as a result of the incremental economic growth stimulated by the Games. Approximately $54 million in venue construction contracts were awarded to self-identified Aboriginal businesses between September 2003 and July 2008.

The report also noted that significant innovations were introduced in environmental building design and construction as a result of hosting the Games.

PwC will monitor the impact of the Games over a five-year period from 2008 to 2013. It has previously produced studies on the Sydney 2000 Summer Games and the London 2012 Summer Games.