Timmins could sweeten the pot to encourage businesses to head north
Published Thursday, October 5, 2017 5:13PM EDT
The City of Timmins is looking to make itself enticing to businesses thinking about heading north.
City councillors want staff to draw up a proposal that could see tax rebates and grant money offered to companies that choose Timmins for a new home.
Council points to the INEOS Calabrian S02 Processing Plant in the city's east end as an example of what's possible.
"There are a few big projects going on in which sites in Timmins are being considered," said Steve Black, Timmins mayor.
"We would like to ensure we're being as competitive as possible and have as best chance as possible to land those bigger projects."
The city plans on doing that by sweetening the pot; offering tax rebates and grant incentives to make Timmins the most attractive community to set up shop.
"We know there are a few big properties we'd like to develop or see re-developed or re-purposed after some of the current operations wind down, as well as development in our industrial rail park, so we've asked staff to come back with a report," Black explained.
The mayor wants to see what the city can offer, in the hopes of attracting major, much sought after operations; like the Ring of Fire smelter.
Those in the know said the competition is fierce, but it is probably wise, long-term thinking.
"Giving away land that away that inexpensively, you're really looking at the longer term benefit to the community with respect to the employment being created and the tax stream that begins to flow from that and of course all of that money turns over in the community. There is a multiplier effect," said Fred Gibbon, Timmins Economic Development Corporation chairman.
Council won't see the options the city can provide until the end of the year.
The Timmins Chamber of Commerce said it isn't willing to comment until the report is complete and staff can assess the impact it could have on existing local business.