Toronto Misses Out on 2015 World's Fair Bid

Posted 03 November 2006 @ 06:36 am EET     Print     Reprint     E-Mail     Comments

TORONTO (Reuters) - Toronto has missed the deadline to submit a bid to host the 2015 World's Fair because federal and provincial governments could not agree on funding, the city's bid organization said on Thursday.

"We were hopeful right up to the last minute, but not only could the federal and provincial governments not reach an agreement on a fiscal framework for the bid, they could not agree on a mechanism for discussing and resolving the fiscal framework," World Expo Corp. said in a statement.

Toronto's bid on the project, with an estimated cost of about C$2.8 billion ($2.5 billion), was due at noon local time on Thursday.

Izmir, Turkey, and Milan, Italy, have applied to host the event. Canada hosted the World's Fair in 1967 in Montreal and in Vancouver in 1986.