The federal government has committed funding to the expansion of the BMO Centre that is set to become the second largest convention centre in Canada.

The $166 million pledge was announced Tuesday and is being matched by both the provincial and municipal levels of government. The Calgary Stampede will contribute $3.9 million to the project.

During Tuesday’s announcement, Francois-Philippe Champagne, the Federal Minister of Infrastructure, said the expansion will support significant growth for the local economy as investing in infrastructure is the best way to attract talent and investment.

The renovation of the building on Stampede Park will require 1,8000 construction positions and 500 full-time staff members will be hired once the convention space is complete.

Once complete, the expanded BMO Centre will be nearly a million square feet large. The expansion will require the demolition of the Stampede Corral, Archie Boyce Theatre, and Hall A of the BMO Centre.