BCLC

BCLC

April 01, 2015 17:46 ET

BCLC's Kamloops Head Office Economic Impact More Than $1 Billion Over 30 Years

KAMLOOPS, BRITISH COLUMBIA--(Marketwired - April 1, 2015) - A Thompson Rivers University (TRU) study released today estimates BCLC's head office has had an economic impact of $1.1 billion on the community of Kamloops since it opened on April 1, 1985.

The Economic and Social Impact of the B.C. Lottery Corporation's Head Office on the Kamloops Area was conducted for BCLC by Dr. Laura Lamb, an economist at TRU's School of Business and Economics using data from the 2013/14 fiscal year and from 30 years of operations to estimate annual and cumulative economic impact.

The study estimates BCLC's head office annual economic impact is $47.3 million, which factors in an annual payroll of $37 million. In addition, the study estimates that for every two jobs at BCLC, one is created in the community for an estimated total annual employment impact of 639 direct and indirect jobs.

The Kamloops office is home to most of BCLC's technology and finance employees with the majority of jobs classified as professional. The study notes that 80 per cent of employees have completed post-secondary education; two thirds have attended TRU at some point in their careers. These factors result in salaries that are higher than average for the city.

The study explains the social benefits of this type of workforce include higher rates of volunteerism and community participation. It estimates nearly half of all BCLC staff volunteer an average of 80 hours of their personal time to over 100 community organizations every year.

BCLC is a Crown corporation that operates lottery, casino, bingo and on-line gaming on behalf of the province. Its Kamloops head office is the centre for technology and finance and also houses the corporation's customer support call centre, one of two prize claim centres and other support functions.

Over the past 30 years, BCLC has generated more than $18 billion for the Province, to support communities, provincial programs, charitable and community organizations.

To view the Economic and Social Impact on Kamloops, click on the following links:

http://media3.marketwire.com/docs/BCLCSummary.pdf

http://media3.marketwire.com/docs/BCLCReport.pdf

Quotes:

Jim Lightbody, President & CEO, BCLC

"BCLC is and will always be an integral part of the Kamloops community a fact that is demonstrated through our $1.1 billion in economic impact to the community over the last 30 years."

"Our people are the engines who drive exceptional results in our business and they're also part of the social fabric of this great community, with more than half volunteering an average of 80 hours of their personal time to local organizations every year."

Terry Lake, Kamloops-North Thompson MLA and Minister of Health -

"BCLC provides important economic benefits to the community of Kamloops and the province as a whole. Government's commitment to keeping the head office in Kamloops has translated into $47.3 million in annual economic benefit to the city."

Todd Stone, Kamloops-South Thompson MLA and Minister of Transportation -

"The importance of maintaining BCLC's head office and next CEO in Kamloops is immeasurable. The corporation enriches Kamloops in so many ways and its continued growth means more jobs for Kamloops and even more economic, social and cultural benefits."

Peter Milobar, Kamloops Mayor

"BCLC has always been a valued partner to the City of Kamloops. Its ongoing sponsorship of Music in the Park and local arts organizations has contributed to the social fabric of this city."

Christopher Seguin, Vice-President of Advancement, Thompson Rivers University

"BCLC has been a friend to TRU and many other local organizations throughout the community. Two thirds of BCLC's staff have attended TRU and the study speaks to both the social and economic value of a well-educated workforce."

An accompanying video and the full report, The Economic and Social Impact of B.C. Lottery Corporation's Head Office on the Kamloops Area (February 24, 2015) are available on http://corporate.bclc.com/media-centre/bclc-news/news-search/news-management/economic-impact-on-kamloops-2015.html.

BCLC is a provincial Crown corporation offering socially responsible gambling entertainment while generating more than $1 billion in net income each year to benefit provincial and community programs across B.C.

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