Invest North Bay will be going to the city for funds in an effort to attract investment to North Bay.

President of Invest North Bay George Burton says they’ll be looking for $2.5 million a year for 4 years.

“This is not that we’re going to go out and spend $2.5 million. In the absence of an investment that money will be rolled over. There will be an accumulation of money in Invest North Bay that will make strategic investments that will create investments and add to our tax base,” he says.

He says they’ve learned a million dollars which has been asked and received earlier isn’t enough to attract a major investment.

“We felt the $2.5 million was a sweet spot and really targets the small and medium sized enterprises that we want to attract to North Bay,” he says.

Filed under: city-council, invest-north-bay