Mr. Chair, members of the committee, thank you for the opportunity to address you today.
As one of Canada's premier community gathering spaces, the Calgary Stampede is rich in Canadian heritage, arts and culture. Stampede Park is a gathering place that connects urban with rural, educates on agriculture and agri-food, and for over 100 years has celebrated the sacred mutual gathering space of the five first nations of Treaty No. 7. It has also cultivated and showcased excellence in performing youth arts and been an annual celebration of western culture, welcoming more than a million local, national and international guests.
Our iconic brand represents a unique community spirit that differentiates Calgary and the surrounding region from anywhere else in the world. A not-for-profit organization with a unique business model, there are no comparatives in Canada. Many think of the Stampede as an annual festival like the CNE or PNE; however, the Stampede has many year-round operations, including a $35-million meeting and convention business. As well, the Stampede operates year-round programming for youth, culture and the arts, agriculture and indigenous education.
The Stampede does not receive municipal support for any of our year-round programming or operations, including the annual festival. The financial statements include a provincial operating grant, which supports community-based programs.
The Stampede's year-round activities are further supported by 2,500 passionate volunteers who dedicate their time and efforts to bring western culture to life for our community and guests. Pre-COVID, these operations included 350 full-time, 850 part-time and 4,000 Stampede-time employees. It's the last organization of its kind in Canada, and as such, finds itself in solitary territory as a result of the pandemic. Unlike other festivals and convention facility comparators, the Calgary Stampede has operated independently for more than 100 years, contributing annually $540 million to the Alberta economy and $700 million to the Canadian economy.
Stampede Park is situated on 206 acres of land and is largely leased from the City of Calgary, with many sizable facilities, such as the BMO Centre, the grandstand, the Nutrien Western Event Centre, the Big Four building and the youth campus, all of which are used for arts, culture and sports presentations.
At the onset of the pandemic, the Calgary Stampede took immediate action and made the difficult decision to initiate significant financially prudent measures. This included laying off 745 employees, of whom 154 were then placed on CEWS, terminating 227 employees and cancelling almost 4,000 jobs due to the cancellation of Stampede 2020. The remaining 10% of our workforce all took pay reductions. Despite these actions, which commenced in mid-March, we continue to face a reality of ongoing expenses against zero revenue. In a regular year, the Stampede's annual celebration and year-round event business brings in revenue of $150 million annually from more than 1,800 events.
Over the past nine months, the Canadian emergency wage subsidy provided some relief. The support enabled us to stay connected and to then bring back 600 people in September. This week's announcement to extend CEWS is hopeful.
Unfortunately, it is the lone federal support program that our organization has been able to access, so we are challenged. The Stampede is recognized as an organization that perseveres. It has successfully persevered through world wars, the Great Depression and natural disasters, including the flood of 2013 in southern Alberta. However, the ongoing impacts of the current pandemic are truly great, and as such can only be overcome with assistance.
Through the continued efforts to repurpose facilities, we have been able to see a slight improvement in our original year-end forecast, and for 2021 we are budgeting for a further decline as we try to bridge to a more normal 2022. This budget does plan for a Stampede 2021, with considerable adjustments as we try to anticipate what COVID-19 restrictions may be in place next July.
Management continues to actively work with both federal and provincial government partners on the most appropriate mechanisms to provide financial assistance.
We deeply appreciate the time and opportunity to address the committee today, and I look forward to answering any questions.