Revamped summit deemed a success

Summit breaks even and receives positive response

This year’s Fraser Valley Economic Summit was just above break-even financially, with positive response coming from about 265 attendees.

According to figures provided by the city, the event generated total revenue of $73,379, with  total expenses of $72,510. Ticket sales accounted for about $26,727, with other funds coming in from sponsors.

Justin P. Goodrich, managing partner at Giesbrecht, Goodrich and Co. and chair of the organizing committee, said the event was a success. He said the intention was to make the project at the least cost-neutral, while providing an event where attendees would leave with relevant and tangible information they could use in their businesses.

This year’s event brought in less revenue than its earlier iteration as the Fraser Vally Economic Symposium, which was held in 2012.

An income statement from the city indicated that event made a surplus of $11,676.

Goodrich said attendance was consistent with 2012, but they had been  “hoping to get closer to about 300.”

He said the event was revamped to reflect a more regional focus, and was not just run by the city, but had representatives from the business committee and chamber of commerce involved in the organization.

Goodrich said the response to the event was good.

“We had a hugely positive response, in particular with respect to our keynote speakers.”

The cost for speakers was $18,725 and included MP Ed Fast, motivational speaker Alvin Law, Kinder Morgan CEO Ian Anderson, well-known broadcaster Bill Good and others.

Goodrich said the event demonstrated that Abbotsford is dedicated to its small- and medium-sized businesses, and it can be built on locally and regionally in the coming years.