On Oct.12, a study was released that estimates the BC lottery corporation (BCLC) has contributed $2.2 billion to boost the economy and social development of Kamloops over the past 35 years.
The report was published by Peter Tsigaris, an economist and TRU professor, where the report finds that at least one full-time job created in the community is based on the economic spinoff. It estimates that BCLC’s total employment impact in Kamloops during 2019-2020 was 667 full-time jobs and an additional 222 in the community.
An average BCLC employee in Kamloops volunteers approximately 45 hours annually, totalling approximately 475,659 hours over the last 35 years for a cumulative social impact estimated at $32.2 million. Combined, employees have donated almost $4 million to local charities since 1985; factoring in indirect social impacts, their donations are valued at approximately $9.3 million.
The report illustrates that BCLC has spent $232 million on local goods and services from Kamloops suppliers throughout the 35 years. Applying an economic impact multiplier of 1.4, the study estimates that in total BCLC has contributed approximately $324.9 million to the local economy in Kamloops.
Tsigaris says “the workforce grows by 4.1 per cent each year on average, and with 445 full-time-equivalent workers.” In addition, “it’s the seventh-largest employer in Kamloops.”
In early 2019, after the replacement project for the Kamloops headquarters was scrapped, there has been speculation that the Crown corporation may permanently move its headquarters to downtown Vancouver.
The report covers up to March 30, 2020, meaning most of the pandemic data is not included in the report. Tsigaris stated that the 2020-21 fiscal year data was not yet available when he did the report earlier this year.
BCLC made sure that no employees have been let go or laid off from its Kamloops headquarters during the pandemic.
CEO Lynda Cavanaugh says the Crown corporation is “so proud of what BCLC has contributed to Kamloops, so appreciative of what Kamloops has contributed to BCLC and we look forward to many more years of success together.”
“Not only are BCLC’s operations positively contributing to the community but so too are our people, who are passionate volunteers, advocates and contributors,” Cavanaugh said.
Bernadette Siracky, Executive Director of the Kamloops Food Bank, said “BCLC donated a significant amount of time and resources to support countless causes and organizations that make a real difference in our community.”
BCLC delivers net income to the B.C. government, which distributes a portion to charitable organizations through grants, and to local governments including the City of Kamloops.
Overall, the result estimated that BCLC activities enabled $373 million in social contributions to the Kamloops community.