Sponsors > Financing the Games
The 2008 Arctic Winter Games will be an incredible boost to the economy on a local level as well as to the Northwest Territories. It is projected the weeklong event, scheduled to run from March 9—15th, 2008, will bring over $5 million to the local economy during a traditionally slow time of the year for business. This money will be generated by the influx of Games participants (2,000), special guests (1,000) and spectators (1,000).
In order to make this event a reality, money must be spent. Over the years, each Arctic Winter Games is more technologically advanced than the preceding games. This trend, when paired with the increasing numbers of participants over the years, results in an increase in the cost of hosting the Games. A diversified funding model has been developed, relying on Federal, Territorial and Municipal grants as well as corporate sponsorships, individual contributions, fundraising special events, retail sales and event revenue for financing.
The cost to host the 2008 Arctic Winter Games is expected to be $5.6 million. These Games will be regarded as the ‘friendly games,’ not simply because of the friendships made during the Games, but because of the sense of community which arises from the support of the thousands of volunteers, hundreds of sponsors and the joint support of three levels of government.
Major expenditure and financing challenges for the success of the Games include catering, transportation, accommodations, communications, security, equipment, medical supplies and staffing. Close to one-third of the financing is being provided by the Government of the Northwest Territories, the Government of Canada, and the City of Yellowknife.
Understanding the enormous value of the Games to northern youth and communities, these three government bodies have partnered to continue the Games’ tradition.
The remaining two-thirds of the required funding, $3.6 million, needs to be raised through an appeal to individual and private sector contributions of cash and Gifts-In-Kind contributions, and through special fundraising events and ticket sales.
