BY ALYSSA MAHADEO
Hosting sponsorship for big events throughout the city is a huge responsibility. Every summer in the city, Torontonians mark their calendars for local festivals, parades and picnics that draw hundreds of people from all over the GTA to celebrate the thriving multicultural diversity of the 6ix.
Following a review of their budget and assessment of how wisely they’ve been spending the big bucks, The Bank of Nova Scotia has confirmed that they will be pulling their sponsorship from local events in Toronto including that of The Scotiabank Toronto Caribbean Carnival.
Every year since 1967, The Toronto Caribbean Carnival also known as Caribana, has brought in over 1.3 million visitors, and has been named as North America’s biggest street festival. It is known to be one of the first Caribbean Carnivals to be held outside of the islands and brings in over $400 million annually into Ontario’s economy.
Immigrants from the Caribbean Islands established Caribana in Canada and it is a reflection of the many carnivals and festivals that take place throughout the Caribbean. Preparations for next year’s carnival usually start immediately following the Civic Holiday and the West Indian community dedicates a lot of time and resources to making sure that the Carnival here in Canada is as memorable as it is back home. All of the costumes are meticulously designed and hand made, while bands are organized and masqueraders wait in anticipation for the parade down Lakeshore in the coming year.
The decision to pull sponsorship came after a review conducted by the bank earlier this year. Last year The Bank of Nova Scotia spent more than $25 million on community events and other local sponsorships in the GTA. The Toronto Caribbean Carnival isn’t the only event that’s getting the boot. Scotiabank has confirmed that they will no longer be sponsoring Nuit Blanche, Buskerfest and the CHIN International Picnic all held during summertime in the city.
Looking back on previous years, Caribana events have been organized by a non-profit Toronto based association called the Caribbean Cultural Committee (CCC). Back in 2006 cuts were made by the City of Toronto and their funding was withdrawn under the condition that they would be able to get their finances in order. During this time, there was a disagreement between the original organizers Caribana Arts Group (CAG) and their trademark on the name of the event “Caribana”. Following legal direction in May 2011 the name was officially changed to the “Scotiabank Caribbean Carnival Toronto”.
Scotiabank claims that arts and cultural sponsorships remain an important part of their overall sponsorship strategy, but have decided that sponsorship funding is better utilized elsewhere in the city. It is unclear what plans will be put into motion in regards to funding for next years parade, but fingers are crossed that the Caribbean community will band together and come up with a solution to keep the party going.
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