taal
Senior Member
I'd be willing to wager that such a project in another city across the world would receive similar grants / subsides / tax relief.
Pretty much. Projects of this type are highly desired by cities because of the tourism revenue and taxes they generate over the long haul. Visitors and students will be coming from all over Southern Ontario just for this one building. I know it's not on par with places like the Shedd or Georgia aquariums, but it will definitely be a long term money maker for more than just some billionaire from BC. The city has been trying for years to lure someone to build an aquarium and while it would have been nice at Ontario Place (or some other lake front locale), this is just about the best place it could be from a tourism standpoint - right next to Toronto's most internationally recognizable landmark.I'd be willing to wager that such a project in another city across the world would receive similar grants / subsides / tax relief.
- The Aquarium will be one of the largest in North America, with a capacity of 5.7-million litres (1.5-million gallons)
- The main exhibition space will include a tropical reef tank, along with Great Lakes exhibits and Atlantic and Pacific habitats
- It will also feature aquatic life-support systems with special recovery basins that reclaim, clean and re-use water;
- Marine and freshwater science education and conservation programs designed to build understanding of the aquatic world
- Trained educators throughout the facility to answer questions and point out special areas of interest
- Aquarium construction is projected to create more than 600 jobs, generating an immediate economic impact of more than $50 million, $35 million of which will be labour income. In addition, during the two-year construction timeline the project is forecasted to generate more than $25 million in taxes for all three levels of government;
- When operational, the Aquarium will generate 300 to 350 jobs and have a projected annual economic impact of more than $35 million on GDP;
- During the first 20 years of operation, the Aquarium is expected to generate more than $220 million in tax revenues for all three levels of government.
- The Aquarium will be open 365-days-a-year, starting in the summer of 2013
Did anyone else notice this little tid bit about the upgrade to John St????
"Support is coming from all three levels of government. Canada Lands Company, the federal Crown corporation which owns the CN Tower and the land that the aquairum will sit on, will spend $10 Million to upgrade the John Street corridor with new signage and infrastructure improvements to bring more pedestrian traffic to the site from Front Street."
Our little bit of Niagra Falls right here in downtown Toronto.
What I don't understand is why they aren't taking this opportunity to connect the skywalk to the CN tower?