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Manitoba Offers to Waive Sales Tax on Major Port of Churchill Investments
The exemption covers new energy, rail and marine projects as Manitoba seeks to draw investors to a $85 billion development pipeline.
- On Monday, Manitoba Premier Wab Kinew announced that major capital investments in the Port of Churchill Plus project will receive an exemption from Manitoba's seven per cent retail sales tax.
- Announced at the Canada Investment Summit in Toronto, the measure aims to attract international capital as Kinew described the port as "open and ready to expand."
- The tax exemption applies to a new energy corridor, liquefied natural gas facilities, Hudson Bay Railway upgrades, and ice-class ships, which new studies estimate would cost $100 million to $130 million.
- Accompanied by Finance Minister Adrien Sala and Job Creation Minister Jamie Moses, Kinew is pitching projects totaling more than $85 billion to 250 global investors representing $13 trillion in assets.
- Year-Round shipping capabilities form the core of the strategy, with officials noting that commodities could reach Europe faster than via the Port of Vancouver, strengthening trade and creating jobs.
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The Toronto Star+6 Reposted by 6 other sources
Manitoba offers to waive sales tax on major Port of Churchill investments
WINNIPEG - Manitoba says it will waive the provincial sales tax on major capital spending for the Port of Churchill as it tries to attract international investment.
·Toronto, Canada
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Premier touts Port of Churchill opportunities at Canadian investment summit
Premier Wab Kinew announced Monday that major capital investments in the Port of Churchill Plus project will receive an exemption from Manitoba’s seven per cent retail sales tax. Kinew made […]
·Winnipeg, Canada
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Coverage Details
Total News Sources10
Leaning Left7Leaning Right0Center1Last UpdatedBias Distribution88% Left
Bias Distribution
- 88% of the sources lean Left
88% Left
L 88%
12%
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