McGuinty Government Invests $2 Million In North Bay's Waterfront
NORTH BAY -- The McGuinty government is investing $1,997,400 in North Bay's waterfront development project to boost economic activity in the city, Nipissing MPP Monique Smith announced today on behalf of Northern Development and Mines Minister and Northern Ontario Heritage Fund Corporation (NOHFC) Chair Rick Bartolucci.
"It's taken vision and determination to get North Bay's waterfront development project underway," Smith said. "I'm extremely pleased that this provincial funding will contribute to economic development in North Bay while beautifying our community."
The multi-phase development by the City of North Bay and the Community Waterfront Friends aims to transform former Canadian Pacific Rail waterfront property into an urban park with commercial and residential components.
Project partners will use funding for site preparation, relocating municipal services, creating a parking area and building walking trails. A multi-million dollar independent living and retirement residence, funded by the private sector, is expected to follow.
"This is the type of economic development our government wants to encourage," said Bartolucci. "It's a good example of an initiative that benefits the economy and quality of life in both the short and long term."
The McGuinty government is returning the Fund to its original mandate of fostering private sector job creation. The NOHFC is working in partnership with the private sector and other levels of government to diversify the northern economy and stimulate job growth. It is an essential part of the government's commitment to delivering a four-year plan for positive change across Northern Ontario.