WATCH: After weeks of waiting, the Gallant Government has confirmed it will invest $21-million towards Moncton’s planned downtown event centre. Global’s Alex Abdelwahab reports.
MONCTON – The Liberal government will invest $21 million into the City of Moncton’s downtown events centre.
Minister responsible for the Regional Development Corporation Victor Boudreau made the announcement Thursday morning in Moncton.
He said cabinet approved Moncton’s recreational infrastructure application Wednesday and said the funding will come in the form of a forgiveable loan.
Moncton’s Mayor George LeBlanc said shovels will not be in the ground this summer, which was what the city was hoping for.
But LeBlanc said he’s now aiming for early next year.
Originally, the city was hoping for $23,859,600 from the province.
The downtown centre project is expected to generate about 700 jobs during construction and 49 permanent jobs associated with operation.
The three-year construction phase is anticipated to generate $9.8 million in provincial income tax, while the ongoing contribution from operations is expected to generate $192,000 annually in provincial income tax.
On Monday, Boudreau told reporters the province needed more commitment from the federal government in order to move forward with Moncton’s downtown events centre.
The deadline for the city to acquire funding for the $100 million project is Saturday.
With files from Global’s Alex Abdelwahab
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