Peterborough is proudly a hockey town. We love our Petes. Hockey fans have successfully lobbied the City for a new twin-pad arena. Competition for hockey ice-time is intense. In Peterborough, hockey rules.
But at what cost? The city subsidizes hockey in many ways, as it should. Money well spent, or so we would like to believe. But what do we get back from this financial support?
It might shock many of us to realize that compared to sports, the arts generate a far better dollars-in vs. earnings-out ratio. Considering the relatively meagre support arts groups get from the city, the earnings are far more impressive than those generated by sports. Why?
Arts facilities are smaller and less expensive to operate. Hockey players need an arena. Actors need an empty stage. Artists are paid pitifully little. Yet audiences pay for tickets, buy meals, and for some, accommodation. In short, for a much smaller investment, the arts generate a surprising volume of revenue for our town.
According to Hill Strategies Research Inc., Canadian performing arts organizations generated $2.70 for every $1.00 of government investment.
From a business standpoint, why doesn’t the city increase its investment in the arts? Instead, arts funding is shrinking. Why?
One of Peterborough’s local gems, The Theatre on King or TTOK, has had its grant from the city slashed to zero. This small downtown theatre has a record of brilliant productions that have employed dozens of local performers, artists, dancers and musicians.
TTOK is a success story that has, over its 10-year history, grown to become a cornerstone of the local theatre community. Many local actors get their first onstage exposure at TTOK. Think of TTOK as a successful farm team for larger theatre companies.
Hockey players need ice-time to develop. Theatre artists need time on stage to develop. Peterborough is indeed a hockey town. But it seems that council has forgotten that Peterborough is also an arts town. City council needs to reinstate the city’s grant for The Theatre on King to its 2022 level of $15,000.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
