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A $350 million new home for the Vancouver Art Gallery would add $38 million annually to the country’s gross domestic product according to an economic impact study.

The MNP study found that a new gallery building would create 1,002 jobs and generate tax revenues of $21.5 million annually.

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The $38 million figure is a conservative projected economic impact of spending by out-of-town visitors.

The study looked at the gallery’s current operations, construction of a new building, expected future operations of the new gallery, and increased tourism.

Constructing a new gallery would add $253.6 million to the country’s GDP, create 2,973 jobs and generate new government tax revenues of $53.6 million.

The results of the study were included in the 2017 pre-budget submission to the House of Commons Standing Committee on Finance.

The submission includes a request from the federal government for $100 million for construction for the new galleryat West Georgia and Cambie on a portion of a lot donated by the city of Vancouver.