Government of Ontario Introduces Shortline Tax Credit, RAC Releases Statement of Support
Written by Jennifer McLawhorn, Managing Editor
Courtesy of RAC
ONTARIO - The Government of Ontario and Minister of Finance Peter Bethlenfalvy introduced a tax credit for shortlines in Ontario.
The Railway Association of Canada, or RAC, released a statement applauding the move. Shortlines in Ontario are essential to the supply chains, the statement reads, as they “move [C]$7 billion worth of goods every year.” Each dollar invested through the tax credit in Ontario is expected to create $10.58 in economic output. RAC states the policy will therefore deliver “lasting returns for Ontario’s economy, environment, and competitiveness.”
President and CEO of RAC Eric Harvey said, “A tax credit will help enable infrastructure upgrades, unlock new business opportunities, and support communities. . . This is especially important in regions where industry is growing and increasingly looking to rail.” The RAC thanked the Government of Ontario and states it “looks forward to working together to build a more connected, resilient transportation future.”
