On August 9, 2010, Town Council confirmed its support for Halton Region to proceed with servicing the Winston Park West employment lands. Winston Park West is located west of Highway 403, between Dundas Street East and the Queen Elizabeth Way.
“We are executing our plan to bring more jobs to Oakville and this high value project is expected to bring over 5,600 jobs to our town over a 15 year period,” said Mayor Rob Burton.
Based on a market assessment by Cushman & Wakefield Ltd., it is estimated that over eight million square feet of industrial and office construction will occur in Winston Park West. According to the assessment, full build out of the area will likely take 15 years beginning in 2013.
“Attracting more business to Oakville not only brings jobs, but it supports our tax base and helps Council provide programs and services for the entire community,” said Mayor Burton. “The taxes generated by Winston Park West could replace roughly a 1.8 per cent tax increase on residents in today’s terms.”
Estimates suggest that the town’s share of the taxes generated by Winston Park West could be $2.2 million annually. The town’s budgeted tax revenue for 2010 is approximately $124.9 million.
For more information about the business case for servicing Winston Park West, click here.
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