"(Woodbine Live!) is going to be a mini Walt Disney World in Rexdale," councillor Rob Ford said after it was announced that Toronto City Council approved a $120 million tax break over a 20-year span for the Woodbine Entertainment Group.
The tax breaks are trumpeted to transform the Woodbine Entertainment Group's Woodbine Racetrack into part of a billion dollar entertainment centre, and Toronto City Council is hoping the move will benefit three neighborhoods close to the facility.
"It's going to attract people from all over the world when they come to Toronto," Ford continued while in conversation with reporters from CBC.ca.
The report indicates that the multi-million dollar project is expected to create almost 10,000 jobs, many of which will be for local residents.
"It's a chance to build great neighbourhoods and to make sure that the people who live in those neighbourhoods get the benefit of this billion-dollar investment by training people for the jobs," said Toronto mayor David Miller.
To read the CBC.ca article in its entirety, click here.
(With files from CBC.ca)