Woodbine Live transformation project incentives approved

City Council approved an incentive package to help secure the Woodbine Live project for Toronto. The project is a major development planned for North Etobicoke near Woodbine race track that will include the construction of a new entertainment facility, hotel, and retail complexes. The $1 billion project is expected to create 9,000 new jobs once the site is open, in addition to the boost to construction employment to build the facilities. Woodbine Live is near three priority neighbourhoods and the project will use a local hiring program to help meet its staffing needs. Woodbine Live is considered a transformative project under the City’s Agenda for Prosperity with its potential to transform North Etobicoke. Through the incentives program Woodbine Live will pay reduced property taxes for up to 20 years, but even with that reduction, the City will net $171 million in new property tax revenue from this new tourist attraction.