Toronto Approves $120 Million Tax Break

Published: July 16, 2008 10:30 am EDT

By a vote of 36-2, Toronto City Council today approved the proposal for the Woodbine Entertainment Group to receive $120 million in new property tax breaks over 20 years. The tax breaks come in accordance with the Woodbine Live! expansion.

The National Post has reported that the tax relief was approved as a 'transformative project' under a brand-new incentive scheme meant to encourage the creation of well-paying knowledge-based economy jobs in strategic areas of the city.

Click here to read The National Post article in its entirety.

(With files from The National Post)

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