Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced on Thursday an investment of $1 million for the operators of the Toronto Caribbean Carnival, the Festival Management Committee (FMC), to modernize the event, expand offerings and enhance visitor experience.

Freeland made the announcement at the official launch of Toronto Caribbean Carnival 2022.

She was speaking on behalf of Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

The Toronto Caribbean Carnival, the largest of its kind in North America, returns to the streets after the two-year pandemic hiatus.

This year’s grand parade will be held on July 30.

A news release from FedDev Ontario says that with the $1-million investment “the Toronto Caribbean Carnival will develop an app to enhance the visitor experience, and update its website

to support online ticket sales.

“This investment will also allow the Festival Management Committee to host Caribbean Carnival-themed events throughout the year, showcasing culinary experiences, including artisan and vendor marketplaces.

It also notes that this project “will further enhance Toronto’s cultural vibrancy, attract new visitors to the region, and strengthen Ontario’s position as a tourism destination of choice.”

The Toronto Caribbean Carnival attracts more than 1.2 million people, including 180,000 tourists, bringing an estimated $338 million into the Ontario economy each year.

In 2019, UNESCO recognized the Carnival as a Cultural Heritage Property.