MONCTON (GNB) – A sod-turning ceremony in Moncton marked the official start of the construction of the city’s new downtown centre.
“Today’s ceremony symbolizes that the new multipurpose downtown centre for greater Moncton is one step closer to being complete,” said Premier Brian Gallant. “This is good news as the construction phase will stimulate the economy and create many jobs. Plus, once the centre is complete, it will enhance the quality of life for families in the region.”
The provincial government is providing a $21-million financial assistance package towards the development of this project and other strategic infrastructure projects in Moncton. The financial package allows the city to convert $14 million of a forgivable loan into provincial grants providing the city fulfils certain conditions.
Construction started in the spring, with an anticipated opening slated for the fall of 2018. The project is expected to generate 713 jobs during construction and 50 permanent jobs associated with operation.
“We are pleased to see this project become a reality,” said Moncton Mayor George LeBlanc. “The centre will stimulate economic activity in our city and revitalize our downtown. We want to thank our funding partners for their contribution toward this significant infrastructure project.”
Once operational, the centre is expected to attract 317,000 to 396,000 people yearly – generating $12 million to $15 million in spending each year. 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.
25-04-16
