From the Niagara Falls Review:
It was designated as a day for family time.
Perhaps more importantly, Family Day was needed to bridge the long holiday gap between New Year’s Day and Easter.
No matter what the reason, a three-day weekend in February is a gift Niagara Falls will gladly accept. After all, according to the Ontario Ministry of Labour’s website, “there is good reason to believe a mid-winter holiday may spark an increase in industries such as tourism and entertainment, leisure.”