THE CITY of Terrace and the Kitselas First Nation last night signed a series of agreements deepening a partnership tied to turning raw land south of the airport into an industrial park.
The land is on Kitselas traditional territory and the agreements build on a memorandum of understanding signed between the two parties in 2007.
The agreements could involve as much as 900 hectares of land.
They are meant to offer secure industrial lands to potential investors and to provide tax revenues.
“These joint venture and revenue sharing agreements for the Skeena Industrial Development Park will bring maximum benefits for our communities in tax revenue and job creation,” said Terrace mayor Dave Pernarowski.
The city has so far acquired a small portion of the planned industrial park and does want to pay for an access road from Hwy37 South to the location.
It can take advantage of matching federal and provincial grants but has yet to come up with its own share to trigger the full value of the federal and provincial grants.
So far, the city has had a few nibbles from companies but no solid commitments.
Pernarowski said there are hopes mines and other development stemming from the Northwest Transmission Line will stimulate interest in the industrial lands.