Lethbridge's Agri-Food Hub and Trade Centre turns 1

LETHBRIDGE -

After three years of construction and $77.6 million, the Agri-Food Hub and Trade Centre opened its doors on Aug. 10, 2023.

The 268,000-square-foot facility was anticipated to be a crown jewel for Lethbridge.

"The first thing people think of when they go into that building is, 'Wow, this is so cool in this city.' The facility is outstanding and what a draw it is for the community," said Coun. Mark Campbell, Lethbridge's current acting mayor.

The facility attracted many events in its first year of operation, such as the Lethbridge Entertainment and Collector Expo.

Other longstanding events such as the Ag Expo benefitted from the new modern space.

"We're seeing new events. For example, this fall is an agri-innovation show and conference. It was held in Red Deer last year, Lethbridge this year. That's probably something we wouldn't have been able to hold before, in the old facility. So it does open up new possibilities and I think that's the exciting part," said Trevor Lewington, CEO of Economic Development Lethbridge.

But there have been challenges.

Months after opening, the Lethbridge and District Exhibition had to ask the City of Lethbridge for emergency funding.

The facility had gone $7 million over budget, posing a financial threat to the Exhibition.

"We didn't expect that, initially," Campbell said.

The city approved up to $1.2 million in emergency funding.

The Exhibition's board was then removed and replaced with a temporary board to oversee operations.

Since the city stepped in, the financial situation has started to stabilize.

The exhibition is now projecting a $4.6-million deficit in 2024 after an initial estimate of $6.4 million.

"They continue to make changes and optimize the operations and so long term, everyone wants to see this building successful and for it to be that sort of marquee piece of Lethbridge," Lewington said.

A third-party review of how the financial issues came to be and to identify the best path forward is underway.

The facility will host Whoop-Up Days starting Aug. 20.

CTV News reached out to the Lethbridge and District Exhibition but had not received a comment at the time of writing.