The WTCC was championed by then-Premier John Buchanan who boasted to reporters in 1981 that the new facility would serve as a scaled-down version of the famous World Trade Center in New York City, eventually becoming the economic and business capital of Atlantic Canada.

In 2008, Trade Centre Limited and the provincial Department of Transportation and Infrastructure Renewal issued an expression of interest for an expanded facility.

In August 2016, it was announced that the province would sell the building to Halifax developer George Armoyan for $13.5 million.

The exterior was to be renovated to house new shops and restaurants, intended to enliven this part of Argyle Street, but developer Armco instead signed a 10-year lease with the federal government.

The facility was run by Trade Centre Limited, a provincial Crown corporation, and owned by the Province of Nova Scotia.