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Credit Union Place attracts over 500,000 people annually to the venue.

Credit Union Place in Summerside is getting some upgrades thanks to more than $700,000 in federal and municipal funding.

Federal Fisheries and Oceans Minister Gail Shea and Summerside Mayor Basil Stewart made the announcement Friday.

The money will be used to expand the current stage, upgrade the venue’s security system, purchase two LED screens and improve the Wi-Fi network.

The federal government is spending more than $478,000 with the city of Summerside kicking in close to $225,000.

Stewart said the upgrades will help attract more visitors to the Summerside area and boost the regional economy.

“It’s certainly going to modernize the facility even more and we’re really getting into — and have been — hosting events. We have a lot of concerts here, a lot of events and these large screens and the other equipment … it’s just going to make the facility more attractive,” he said.

Credit Union Place attracts over 500,000 people annually to the venue.