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A giant inflatable duck sits on Toronto's Harbourfront as part of the Redpath Waterfront Festival, on Friday, June 30, 2017.Christopher Katsarov/The Canadian Press

A Toronto waterfront festival that hosted an unexpectedly controversial giant rubber duck says it generated millions of dollars in economic activity.

The Redpath Waterfront Festival says a study conducted by Enigma Research shows the economic impact of the festival was a record $7.6 million.

About 750,000 people attended, which the festival attributes in part to the attraction billed as the world's largest rubber duck.

The six-storey, 13,600-kilogram yellow duck was brought to Toronto by the festival at a total cost of $200,000.

The Ontario government gave the festival an approximately $120,000 grant, which Opposition politicians called a "cluster duck" and an absurd use of taxpayer dollars.

The festival says area businesses reported record sales over that Canada Day weekend and that water taxis received a boost in business after a challenging summer due to Toronto island closures.

It’s big, it’s yellow, and it’s floating in Toronto’s harbourfront. Peek inside a $200,000 giant rubber duck that was inflated Friday ahead of a weekend festival on the city’s waterfront.

The Canadian Press