New Event Centre would revitalize the downtown and drive economic growth, says Mayor Leal, PKCC and DBIA

Peterborough, ON – Mayor Jeff Leal held a media conference on May 4, 2026 with local community and business leaders to discuss the benefits of a new Event Centre in Peterborough’s downtown.  

The Peterborough Memorial Centre is 70 years old and nearing the end of its useful life. It is already unable to host modern events and that capability will continue to deteriorate as it ages. City staff have found that it will take at least $22 million over the next 15 years just to keep its doors open.  

A new Event Centre would revitalize the City’s downtown and transform the Waterfront, drive economic growth and investment, and cement Peterborough’s reputation as a regional hub and tourism destination for decades to come. 

The new Canadian Canoe Museum serves as an example of what investment in a new, modern Event Centre can do for the region. Last year, the museum welcomed more than 115,000 visitors. Two thirds of those travelled from outside the region. This resulted in an estimated $10.5 million in visitor spending, contributing almost $7 million to regional GDP, based on the Tourism Regional Economic Impact Model. A new Event Centre will have an even more dramatic impact. 

Quotes

Mayor Jeff Leal 

“We need to think about the next 70 years of Peterborough - Vision 2096. This is a generational opportunity for our community. A new Event Centre will revitalize our downtown by driving foot traffic and encouraging investment. It will transform our waterfront and stimulate economic growth and development, and it will make Peterborough a regional hub and tourism destination for the next 70 years.” 

Brenda Whitehead, President and CEO, of the Peterborough & the Kawarthas Chamber of Commerce 

“From the Chamber’s perspective, this is about more than a building. It’s about economic opportunity. Aging infrastructure limits our ability to attract major events and stay competitive. A modern events centre strengthens Peterborough’s role as a regional hub while driving the kind of downtown activity that supports businesses across the entire region, and promotes opportunities for growth and further community development.” 

Nour Mazloum, Executive Director of the Peterborough Downtown Business Improvement Area 

“Investing in a Multi-Use Sport and Event Centre is an investment in the future of our downtown. Facilities like this bring consistent energy, attract visitors, and create the conditions for local businesses to grow and thrive. The DBIA strongly supports moving this project forward as a catalyst for long-term economic development and vibrancy in Peterborough’s core." 

Paul Harris-Lowe, Member of the City’s Economic Development Working Group 

“The prospect of a new event centre is very exciting. As businesses in Canada and around the world look to expand, their decision-makers are looking for business centres which are modern and provide their employees with facilities to enjoy and raise their families. A city which has the ability to provide activities in both the arts and in sports is a city business leaders are attracted to. An event centre that Peterborough can be proud of will go a long way to attracting new business to Peterborough and making our city the hub for Central-East Ontario.”