A milestone for the financial future of CMS was realized at this week’s meeting of the Niagara Region’s Planning and Development Services Committee.
The Committee gave all-but unanimous approval to include the speedway lands as a key investment in its Niagara Gateway Economic Zone.
It means CMS can be eligible for tax incentives and price breaks, balanced against the millions of dollars the track will generate in economic impact and jobs!
CMS Partner and Executive Director Azhar Mohammad says it was a huge day in the CMS timeline!
“This is a fantastic day! We have been building up to this and it’s great to see finally that the Town of Fort Erie and The Region have tabled something that is real, achievable, and executable. It’s real support. And as an investor, we really feel this is something was a long time coming and we’re glad it’s happened, “ Mohammad commented.
Chairman of The Niagara Region, Alan Caslin, declared the vote clearly shows The Region’s new-found commitment to make economic prosperity central to everything it does.
“We’re open for business and we’re demonstrating it. It hasn’t always been that way at The Region. This is once in a lifetime, a massive undertaking, “ Chairman Caslin offered.
Final approval is expected next week at Regional council’s general meeting!
In the photo, taken at Regional Headquartes in St.Catharines moments after the vote, from Left to Right:
Regional Chairman Alan Caslin, CMS Executive Director Azhar Mohammad, Fort Erie Regional Councillor Sandy Annunziata, and Acting CAO, The Town of Fort Erie, Tom Kuchyt.