Lethbridge & District Exhibition provides June update

Lethbridge & District Exhibition (LDE) submitted their June report to Economic Standing Policy Committee today, including a financial and operating update to the end of April 2024.  

Six months into the fiscal year, LDE is forecasting a $1.8 million improvement in the estimated shortfall for 2024. Sitting at a $1.1 million deficit to the end of April, the financial forecast is now estimating at $4.6 million deficit, down from the original estimate of $6.4 million. 

“We know there are still some very significant shortfalls,” says Mayor Blaine Hyggen. “But with a much clearer picture of what those are, we are pleased to see strategies being put in place to help reduce that deficit and mitigate risks to both LDE and the City.” 

In the last month, LDE has confirmed another 20 events for 2024 and five additional events for 2025. In addition to more event bookings, sponsorship opportunities both within the Agri-food Hub & Trade Centre and at LDE events have also increased, generating more than $800,000. 

“I am proud of the team for both keeping expenses down and for their work in creating new revenue opportunities,” says LDE Acting CEO, Kim Gallucci. “All of these efforts contribute to reducing that deficit at the end of the year.” 

Today’s report also highlighted that most of the construction work has now been completed with a few remaining items still outstanding due to supplier delays. The total construction cost of the Agri-food Hub & Trade Centre is approximately $77 million.  

From an operational standpoint, the report helped provide clarity around LDE staffing, in response to inquires from members of the public. 

“With the City’s financial and governance support of this project, the community may think these employees are now City staff,” says Mayor Hyggen. “We want to be clear, that is not the case. LDE remains its own organization, with its own staff.” 

LDE is a separate legal entity from the City of Lethbridge and any new recruitments are hired as LDE employees. These employees all go through a training process and sign a LDE employment contract.  

Any members of the community wishing to keep updated on City news and Council decisions regarding LDE can follow https://getinvolvedlethbridge.ca/lethbridge-district-exhibition.  

The Agri-food Hub & Trade Centre has been busy throughout May, including the return of the Lethbridge Farmers’ Market, which LDE has produced annually since 1971. More than 3,000 guests visited the first market of the season on June 8. The market runs every Saturday from 8 a.m. – 1 p.m. in the UFA Hall of the Agri-food Hub & Trade Centre.

Other notable events over the past month include the Wild Mile Southern Prairie 4-H Sheep Show and Sale, the Lethbridge Entertainment and Collector Expo, and the Blackfoot Confederacy Elders’ Meeting. While June is traditionally a slower time for public events, the Agri-food Hub & Trade Centre remains busy with nearly 20 private events booked for the month. For a full list of upcoming events visit: https://www.agrifoodhub.ca/agri-food.