Alberta
Canadian Finals Rodeo 49 Wraps Up with Record-Breaking Success
As we bid adieu to the exhilarating 49th Canadian Finals Rodeo (CFR) powered by ATB, we want to extend our heartfelt thanks to the community of Central Alberta and rodeo enthusiasts for their unwavering support throughout this incredible event. This year’s Canadian Finals Rodeo (CFR) in Red Deer shattered all previous records with an astounding 37,000 tickets sold. The highly anticipated Cabaret, featuring a post-rodeo party showcasing the CFR All Star Band of incredibly talented musicians, was a resounding success, drawing in an impressive crowd of 13,000 attendees.
The Ropin’ into the Holiday Market, featuring 99 trade show vendors, added an extra layer of excitement and variety to the CFR experience. Attendees were treated to a diverse array of offerings, from western apparel to equine, making for a memorable shopping experience. This bustling market also drew in community members who may not have been initially there for the rodeo, further enhancing the sense of community engagement and enjoyment.
Apart from the thrilling rodeo action, attendees were also treated to exciting activities free of charge in the CFR Experience Arena throughout all five days of CFR. This included Ultimate Bullfighting and Equine Equus
Experiences, the Miss Rodeo Canada Horsemanship competition, Canadian Championship Dummy Roping, the Futurity Canadian Made Bucking Horse Sale, the H Bar Auctions Horsemanship Show and Sale, and to cap it all off, the Mini Chuckwagons entertained with a morning of races!
In addition to these remarkable achievements, the Rotary Club of Red Deer hosted an electrifying 50/50 event, where one lucky winner walked away with an astonishing $99,537.50 in prize money. These outstanding achievements have solidified this year’s CFR as the event with the highest attendance ever recorded in Red Deer’s CFR history.
None of this would have been possible without the generous support of our sponsors. Their invaluable contributions played a pivotal role in making this year’s CFR an unforgettable experience for all involved. A special thank you is owed to the dedicated staff and volunteers who poured their hearts and souls into crafting an exceptional guest experience. Over 3,000 volunteer hours were logged, with the tireless efforts of 400 volunteers ensuring that every aspect of the event ran seamlessly.
In the spirit of giving back, the Westerner Park team was proud to present a donation of $6,615.00 to the Benevolent Rodeo Fund. This contribution exemplifies our commitment to supporting the rodeo community and its
members in times of need.
For a comprehensive overview of the rodeo results, we invite enthusiasts to visit crfreddeer.com. Here, you can find detailed information on the incredible performances and accomplishments of our talented rodeo
competitors.
Once again, we extend our deepest gratitude to everyone who played a part in making CFR 49 a resounding success. The combined efforts of the community, sponsors, staff, volunteers, vendors, and attendees have left an indelible mark, and we look forward to building upon this support for future events at Westerner Park.
About Westerner Park
Westerner Park is Central Alberta’s largest tradeshow, agricultural, sports, entertainment, and convention facility. A not-for-profit organization and agricultural society, Westerner Park typically generates $150 million annually in economic activity, hosting over 1,500 events and 1.5 million visitors each year.
From the Fraser Institute
By Spencer Gudewill and Tegan Hill
Last November, Premier Danielle Smith announced that her government will give up to $1.8 billion in subsidies to Dow Chemicals, which plans to expand a petrochemical project northeast of Edmonton. In other words, $1.8 billion in corporate welfare.
And this is just one example of corporate welfare paid for by Albertans.
According to a recent study published by the Fraser Institute, from 2007 to 2021, the latest year of available data, the Alberta government spent $31.0 billion (inflation-adjusted) on subsidies (a.k.a. corporate welfare) to select firms and businesses, purportedly to help Albertans. And this number excludes other forms of government handouts such as loan guarantees, direct investment and regulatory or tax privileges for particular firms and industries. So the total cost of corporate welfare in Alberta is likely much higher.
Why should Albertans care?
First off, there’s little evidence that corporate welfare generates widespread economic growth or jobs. In fact, evidence suggests the contrary—that subsidies result in a net loss to the economy by shifting resources to less productive sectors or locations (what economists call the “substitution effect”) and/or by keeping businesses alive that are otherwise economically unviable (i.e. “zombie companies”). This misallocation of resources leads to a less efficient, less productive and less prosperous Alberta.
And there are other costs to corporate welfare.
For example, between 2007 and 2019 (the latest year of pre-COVID data), every year on average the Alberta government spent 35 cents (out of every dollar of business income tax revenue it collected) on corporate welfare. Given that workers bear the burden of more than half of any business income tax indirectly through lower wages, if the government reduced business income taxes rather than spend money on corporate welfare, workers could benefit.
Moreover, Premier Smith failed in last month’s provincial budget to provide promised personal income tax relief and create a lower tax bracket for incomes below $60,000 to provide $760 in annual savings for Albertans (on average). But in 2019, after adjusting for inflation, the Alberta government spent $2.4 billion on corporate welfare—equivalent to $1,034 per tax filer. Clearly, instead of subsidizing select businesses, the Smith government could have kept its promise to lower personal income taxes.
Finally, there’s the Heritage Fund, which the Alberta government created almost 50 years ago to save a share of the province’s resource wealth for the future.
In her 2024 budget, Premier Smith earmarked $2.0 billion for the Heritage Fund this fiscal year—almost the exact amount spent on corporate welfare each year (on average) between 2007 and 2019. Put another way, the Alberta government could save twice as much in the Heritage Fund in 2024/25 if it ended corporate welfare, which would help Premier Smith keep her promise to build up the Heritage Fund to between $250 billion and $400 billion by 2050.
By eliminating corporate welfare, the Smith government can create fiscal room to reduce personal and business income taxes, or save more in the Heritage Fund. Any of these options will benefit Albertans far more than wasteful billion-dollar subsidies to favoured firms.
Authors:
Alberta
Official statement from Premier Danielle Smith and Energy Minister Brian Jean on the start-up of the Trans Mountain Pipeline
A Fed-Controlled Digital Dollar Could Mean The End Of Freedom
Principal at Calgary Elementary School charged with possession of child pornography
Alberta’s vision for passenger rail
Alberta threatens to fight Trudeau government restrictions on Canada’s plastics industry
-
Alberta2 days ago
Official statement from Premier Danielle Smith and Energy Minister Brian Jean on the start-up of the Trans Mountain Pipeline
-
Economy2 days agoToday’s federal government—massive spending growth and epic betting
-
Economy2 days agoYoung Canadians are putting off having a family due to rising cost of living, survey finds
-
COVID-192 days agoCanada’s COVID vaccine injury program has paid out just 6% of claims so far
-
Environment1 day agoClimate Alarmists Want To Fight The Sun. What Could Possibly Go Wrong?
-
Opinion9 hours agoClimate Murder? Media Picks Up Novel Legal Theory Suggesting Big Oil Is Homicidal
-
International2 days agoNYPD storms protest-occupied Columbia building, several arrested
-
Addictions18 hours agoCity of Toronto asks Trudeau gov’t to decriminalize hard drugs despite policy’s failure in BC