Calgary Stampede receives $10M from federal government

The Calgary Stampede has received more than $10 million from the federal government to help it bounce back after last year's event was scaled down due to the COVID-19 pandemic.

A report to the city this week showed the Stampede had an operating loss of $8.3 million in 2021.

Last year's Stampede ran at half capacity because of COVID-19 public health measures and was cancelled all-together the year before.

Daniel Vandal, the federal minister for Prairies Economic Development Canada, says the money aims to support a full-scale Stampede to deliver the ``authentic western experience'' this year.

He says it would also help to reignite Alberta's visitor economy. The 2022 Stampede is set to run from July 8 to 17.