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Massive Tax Break For Woodbine Live!

Published: July 9, 2008 10:00 am ET

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Yesterday, Toronto's economic development committee gave the Woodbine Entertainment Group a $120 million property tax break over a 20-year span -- the largest tax break in the history of the city.

"You sit there with a parking lot or you have a magnificent entertainment destination with 6,000 jobs," The Globe and Mail quoted Toronto mayor David Miller as saying.

The tax break will see development plans for the multi-million dollar Woodbine Live! go through.

WEG and The Cordish Company plan to begin the $750 million first phase of construction, which will include stores, bars and restaurants, a hotel, a 6,000-seat entertainment venue and an ice-rink.

Click here to read The Globe and Mail article in its entirety.

(With files from The Globe and Mail)


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