The Technodome: Assured clientele and significant support
Montréal, June 6, 2000 - Recent developments have spurred on the progress of the Technodome project, a major Montréal recreational tourism complex created by the Société générale de financement du Québec (SGF) and Heathmount A.E. Corporation. Results of a newly published market study by Léger & Léger confirm that the Technodome is feasible, and will be profitable. In addition, a committee made up of influential members from all sectors of the Montréal community has studied the project, and they agree that this type of project is essential to the economic rebirth of the city.
Nearly 7 million visits per year, according to Léger & Léger
The Léger & Léger study found that the Technodome will generate approximately 6.7 million visits per year from people –mostly from Québec, Canada, and the United States– who are willing to pay for a day of excitement and escape at the world’s most spectacular indoor sports and recreation centre. The two‑part study included a telephone survey and open‑forum discussions, and the results confirm those of previous studies concerning the expected level of interest.
Results of the telephone survey revealed that some 5 million people expressed a willingness to pay to visit the Technodome, based only on a brief description during a telephone survey. This number jumped to 7.6 million when more detailed information was made available at the discussion forums. In a normal marketing context, the forecast of 6.7 million visitors per year is reasonable, and even conservative.
The Léger & Léger survey was conducted during the month of April, 2000 and covered population samples from Montréal and Québec outside Montréal as well as from Canada and Eastern United States.
"It’s very encouraging to see that systematic, quantitative research confirms the Technodome’s tremendous potential" said Jean‑Jacques Bourgeault, Vice‑President Development, Recreational Tourism for SGF. "We underestimated its appeal with American tourists, and these increased numbers are very exciting. The Technodome will have a structural impact on the economy by increasing and diversifying the choices available in the area of recreational tourism, taking advantage of Québec’s expertise in many areas, including multimedia. There will be several major benefits to the region, especially in terms of jobs, during both the construction and operational phases."
"This study establishes, beyond a doubt, that the proposed concept will be a big hit with tourists," said Jean‑Marc Léger, President, Léger & Léger Research and Marketing Strategy. "We also learned that the Technodome appeals to every age group."
Landmark Entertainment joins the Partnership
Abraham Reichmann, President and Chief Executive Officer of Heathmount Arts and Entertainment Corporation, points out that the study confirms the value of selecting Montréal as the site, and the attraction of the type of cutting edge concepts that the Technodome represents: "Montréal is an international city that already has a great deal to offer, and the one‑of‑a‑kind, revolutionary concept of the Technodome will only add to its appeal." Mr. Reichmann also announced that Landmark Entertainment, a Los Angeles company run by Tony Christopher, and a world‑renowned leader in the field of entertainment, has joined the partnership, offering their valuable expertise.
Montréal adopts the Technodome
After examining the project, the committee studying the Technodome proposal, which consists of influential Montrealers from the world of business, tourism, finance, socio‑economics, and higher education, has expressed its support. More than 40 letters have been sent to the developers to date, encouraging them to continue and even speed up their progress.
According to Jean‑Jacques Bourgeault, this support from the Montréal community is invaluable: "I am glad to see that Montréal recognizes the beneficial effects that the Technodome will have on its economy, and on that of the province, as a major tourist attraction. It will generate a synergy with existing attractions, open new doors into the new economy, and create thousands of specialized and non-specialized jobs.
The fact that the support is pouring in from all sectors of the community testifies to the importance of this type of project to the economic rebirth of the Montréal."
Destination Technodome is the product of almost a decade of studies that culminated in the development of a unique concept for an indoor amusement theme park. The massive project will cover and area of 155,000 m2, tower up to 80 m at its highest point, and operate throughout the year. Heathmount Arts and Entertainment has teamed up with SGF to build this project in Montréal.
The mission of Société générale de financement du Québec is to realize economic development projects meeting normal profitability requirements, in collaboration with business partners. Since it was restructured in 1998, SGF has generated investments of about $2 billion, leading to the creation of over 9,000 direct and indirect jobs in the operating phase, not counting the thousands of jobs created during the construction phase. As of December 31, 1999, SGF’s consolidated assets totalled close to $2 billion. SGF has 40 international partners operating in Québec.
Heathmount Arts & Entertainment Corporation is a Canadian company controlled by the Toronto-based Reichmann family.
Vice-President, Communications and Public Relations