Question Period Note: Grand Prix of Canada

Grand Prix of Canada

• The Canadian Grand Prix is one of Canada's most important tourism events. The race generates long-term economic benefits for Canadians, and positions Canada and Quebec as major tourist destinations, as well as Montreal as an international metropolis.
• The Government of Canada is providing financial support for the Canadian Grand Prix in Montreal until 2031, for a total of up to $99.2 million.
• The Government of Canada continues to work with all partners associated with this major event.

Canada Economic Development for Quebec Regions finances major international events in Montreal that generate significant, lasting and tangible tourism benefits.

Canada Economic Development for Quebec Regions cannot comment on any discussions the promoter may have with Formula One World Championship concerning the holding of the Canadian Grand Prix after 2031.

Canada Economic Development for Quebec Regions ensures rigorous management of public funds for the projects it finances.

• The F1 Canadian Grand Prix is the country's biggest annual touristic event. As the 2023 impact study shows, the Grand Prix generated $67.4 million in economic spin-offs for Quebec alone that year. It created and maintained 720 jobs and attracted 170,600 unique spectators to Île Notre-Dame, 41% of whom were tourists from outside Quebec and 20% from abroad.
• The Government of Canada, through Canada Economic Development for Quebec Regions, has supported the event for many years. Currently, this support takes the form of a non-repayable contribution of up to $99.2 million to finance the rights to hold the Grand Prix in Montreal from 2015 to 2031 inclusively.
• CED is not involved in the internal management of the F1 Canadian Grand Prix.

The F1 Canadian Grand Prix generates significant revenue for local businesses and contributes to the prestige and international reputation of the city and the country.

The Government of Canada has supported the event for many years, providing a non-repayable contribution to finance the rights to hold the Grand Prix in Montreal.

The 2025 edition of the event will take place from June 13 to 15, 2025 on the Circuit Gilles-Villeneuve in Montreal.