Friday, November 17, 2017

Yekaterinburg-Expo to submit business plan to Sverdlovsk government

Yekaterinburg-Expo, Yekaterinburg's international exhibition center, plans to submit a detailed business plan to the Sverdlovsk region's legislative assembly in early November.

Vadim Khylzov, the acting director of JSC Corporation of the Middle Urals, recently assured members of parliament that Yekaterinburg-Expo will break even in 2014, which prompted the request for a business plan to confirm the numbers, Oblgazeta.ru reports.

The expo center rented its facilities for 13 events in the second half of 2011 and held 27 events in the first nine months of 2012. An additional 18 exhibitions are expected between October and the end of the year.

"Evaluating the financial returns from the International Exhibition Centre, one must not forget the indirect factors," Elena Novotorzhentseva, the deputy minister of economy of the Sverdlovsk region, said, according to Oblgazeta.ru. "The conduct of our assessment of the economic impact of Innoprome-2012 showed that the guests visited the exhibition, and there were 17,500 people (that stayed) in hotels (paying $5.48 million), and catering services to pay ($1.69 million). In addition, the Ural advertising companies and firms specializing in the installation of exhibition stands, could earn ($9.39 million). Therefore, local entrepreneurs were more than ($15.92 million). Income tax effect of the budget on a revenue Ural companies should be about ($6.37 million)."

Yekaterinburg-Expo officially received approval in 2013 to organize 27 exhibitions and 50 additional events are still being negotiated.

The business plan for the international exhibition center will be presented to regional authorities within the next three weeks, Oblgazeta.ru reports.