A recent study has revealed that the Toronto International Film Festival® and year-round programming at TIFF Bell Lightbox brings incredible value to the City of Toronto and the Province of Ontario, with $189 million in annual economic impact. The study took place between April 1, 2012 and March 31, 2013 and found that TIFF’s aggregate impact totaled $189 million and that TIFF events and related activities created or maintained 2,295 jobs and generated $58.2 million in total tax revenue for governments.
With September 2013 marking three years since the opening of TIFF Bell Lightbox in 2010, TIFF has emerged as a key source of tourism, industry activity and media profile. TIFF’s economic impact has increased by $50 million since the organization’s previous study was conducted in 2008/09*.
“As we embark on our 38th annual Toronto International Film Festival and celebrate three years in our permanent home at TIFF Bell Lightbox, we are proud that TIFF has maintained a positive and growing impact on the economy,” said Piers Handling, Director and CEO of TIFF. “With increased year-round programming geared to engage new audiences and bring fresh faces to TIFF Bell Lightbox, I am confident that TIFF will continue to give back to the City of Toronto, the Province of Ontario and its citizens whose support has made us who we are today.”
In addition to the Festival held each September, TIFF’s year-round activities at TIFF Bell Lightbox include the TIFF Kids International Film Festival®, TIFF Cinematheque ®, New Releases and Exhibitions that attract local visitors, as well as tourists from around the world. The 2012 Festival attracted 27,434 out-of-town visitors, including 4,200 film industry professionals who came to Toronto specifically to participate in the Festival. Visitors from Ontario make up 62% of Festival public attendance, with 25% of its visitorscoming from USA, 10% from other provinces, and 2% from other countries. A third of the Festival’s industry delegation comes from outside Canada.TIFF’s year-round operating budget for 2012 was $38.73 million.
* The 2008/2009 study revealed that TIFF’s economic impact at that time was $170 million which included $30.84 million from the construction of TIFF Bell Lightbox. About the StudyThe economic impact study was completed by TNS Canada Ltd., who also did work on TIFF’s previous 2008/09 study. The study included: 2,414 intercept surveys; 305 follow-up telephone surveys; 30 interviews with industry delegates. This study covers April 1, 2012 to March 31, 2013 (i.e. the government fiscal year).About TIFFTIFF is a charitable cultural organization whose mission is to transform the way people see the world through film. An international leader in film culture, TIFF projects include the annual Toronto International Film Festival in September; TIFF Bell Lightbox, which features five cinemas, major exhibitions, and learning and entertainment facilities; and innovative national distribution program Film Circuit.
The organization generates an annual economic impact of $170 million CAD. TIFF Bell Lightbox is generously supported by contributors including Founding Sponsor Bell, the Province of Ontario, the Government of Canada, the City of Toronto, the Reitman family (Ivan Reitman, Agi Mandel and Susan Michaels), The Daniels Corporation and RBC. For more information, visit tiff.net.TIFF is generously supported by Lead Sponsor Bell, Major Sponsors RBC, L'Oréal Paris…