Kathleen Wynne has announced the details of a new program that aims to attract new investment to Ontario, and specifically, to highlight development opportunities in municipalities across the province.
Called the
Investment Ready: Certified Site Program, the goal is effectively to create a roster of pre-screened sites in each municipality that are available for development, to help potential investors hone in on venues that might make good homes for their ventures.
"We want to cut red tape to attract investment across the province," the premier said in a speech to the Association of Municipalities of Ontario earlier this month, when introducing the program. "It shows companies around the world the places in your municipalities that are ready to be developed, giving them increased certainty about environmental concerns, utility lines and servicing access. In practical terms, it means businesses can quickly make more informed decisions, and help expansion projects get underway sooner. "
Candidate sites will go through a certification process—applications should be available by the end of the calendar year—and if they are successfully certified will be entered into several databases that the provincial government will be promoting. (The government will also help defray some of the costs of participating, though the particulars of that aspect of the program haven't yet been released.)
The eligible properties must be of a certain minimum size (four hectares), zoned for industrial use, and meet other criteria with respect to the utilities and services that are in place on site.
Writer: Hamutal Dotan
Source: Office of the Premier