The Manitoba government is offering to waive the provincial sales tax on major capital spending for the Port of Churchill as it tries to attract international investment.
Premier Wab Kinew made the announcement Monday at a major investment summit in Toronto organized by the federal government.
“We are here in Toronto to tell global investors that the Port of Churchill is open and ready to expand,” Kinew said in a statement.
The province said the new tax measure would apply to proposals for a new energy corridor and liquefied natural gas facilities, upgrades to the railway that runs to the port and icebreaking capacity to support year-round shipping.
Get breaking National news
Get breaking Canada news delivered to your inbox as it happens so you won’t miss a trending story.
By providing your email address, you have read and agree to Global News’ Terms and Conditions and Privacy Policy.
Kinew is to meet with global investment firms while in Toronto to pitch the Port of Churchill as well as mining, infrastructure and agriculture projects totalling more than $85 billion.
Story continues below advertisement
Hundreds of executives and global asset managers have descended on Toronto for Canada’s first investment summit.
Prime Minister Mark Carney, his ministers and premiers from across the country are pitching investors on opportunities in multiple sectors, including energy, critical minerals and defence, over the next two days.
- New Brunswick aiming to attract $30 billion in investment at Toronto summit
- Inflation stayed at 3% in August as travel costs soared, says StatCan
- Carney, premiers pitching major projects at first investment summit
- Carney says economic activity already spurring from investment summit
-
Carney says he remains in regular contact with Trump despite trade war
-
PM Mark Carney hosts first-ever Canada Investment Summit, protests planned
-
UBCM raises concerns over funding cuts during annual convention
-
“I find Canada to be the worst country to deal with,” Trump tells reporters
Kinew has championed the Port of Churchill as the province’s best bet for transformative economic growth.
The port has seen little activity in recent years, but in early September it loaded the first grain cargo in six years as well as its first potash shipment.
The province also released studies in August showing that receding ice levels are helping make the arctic shipping route more accessible with much cheaper ships than previously thought.