City council in Sault Ste. Marie will vote next week on committing $15 million in money, land, tax and other incentives to the $250 million Sault Ste. Marie port development.
“The City of Sault Ste. Marie has entered into a strategic partnership with the Hamilton-Oshawa Port Authority to develop the Sault to the South Trade Corridor,” the motion for July 13 meeting said.
The project is described as “a transformative $250 million multimodal infrastructure initiative designed to unlock northern Ontario’s resource sectors and enhance national supply chain resilience.”
“The successful development of a modernized commercial port facility at the heart of the Great Lakes is projected to generate massive regional economic benefits, including up to 1,800 construction jobs and over 2,400 long-term logistics and industrial positions,” the motion added.
Accessing funding for the project from the federal and provincial governments requires the municipality to step up, as well.
“The City of Sault Ste. Marie must balance this vital economic development project with prudent, long-term stewardship of the municipal tax levy and local infrastructure assets,” the motion said.
If approved, the city would be committed to providing a maximum of $15 million for the Port of Sault Ste. Marie project, with the actual amount to be determined once all details are in place.
The city’s contribution would include cash, the value of land donated by city council, tax rebates, capital infrastructure improvements to support the port development.
It would all be conditional on funding sources for the entire project being confirmed.
If the motion is approved, staff would report back on details of what the $15 million would include.
