Tax Incentives for City’s Downtown Activity Hub

Tax Incentives for City’s Downtown Activity Hub

By Sarah Klein

MTS Centre (STAN MILOSEVIC / MANITOBAPHOTOS.COM)

The city and province will provide tax incentives for a section of downtown Winnipeg surrounding Portage Avenue.

Mayor Sam Katz and Premier Greg Selinger announced Wednesday it would support the downtown Portage Avenue development strategy, created by CentreVenture. The strategy is based on the four Portage Avenue districts: University, retail, sports, hospitality and entertainment, and commercial.

“Downtown Winnipeg is undergoing a truly remarkable renaissance that’s really just getting started,” Selinger said. “This plan will allow us to take full advantage of the private sector investment we are once again seeing in the downtown by investing some of the new tax revenue back into streetscape improvements.

Both levels of government will provide tax increment financing to support the development of the Sports, Hospitality and Entertainment District (SHED) in an 11-block area between MTS Centre and the Winnipeg Convention Centre.

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