Origins of Invest Medicine Hat (IMH) Pt 1
In 2015, the running of IMH was contracted to Ryan Jackson’s company Rameco Consulting.
IMH is trademarked, it legally belongs to the City.
IMH started the process of bringing in Aurora Sun in 2017; a MOU was signed with the City in April 2018. It was going to be the world’s biggest marijuana grow/processing plant promising 450 well paying permanent jobs starting in February 2019.
"The MOU includes a 10-year 42 mega watt energy supply agreement."
We all know how that turned out. Aurora got $6.6 million in subsidies and we got a vacant, unfinished building. ” I mean it is privately owned, and if they find a buyer for it, great. The only thing is, is that we do like the fact that it is presently designated as a cannabis or THC facility because it is taxable. With somebody to buy it with perhaps growing something else, it may no longer be taxable because it would be agriculture,” Mayor Clugston said. The Aurora Sun facility contributes about $1.6 to $1.7 million in tax revenue every year. But Clugston said tax rate reductions do occur for buildings that are vacant.”
They never opened their doors, they never even finished the building and now they cannot even sell it.
IMH tried to spin this as a good thing, that we got value for $6 million. Seriously?
They're assuming that Aurora will still be in business to pay those taxes. Meanwhile Aurora has sunk a bunch of money into Comox BC.
In 2019 the contract to run IMH was due to expire. Ryan Jackson went on to bigger and better things, once again promising a big plant with 200 jobs starting in the fall of 2020.
"Folium, which is now in the planning and land arrangement stage of building a planned 200,000-square foot facility that could employ 200 in the fall of 2020, does not benefit from any development subsidy from the city, as is the case to secure Aurora."
“Folium Biosciences has received an assist from the city before shovels go into the ground on their planned Medicine Hat facility. During Tuesday night’s city council meeting, council unanimously voted to provide $533,743 in a municipal assist to help cover the cost of off-site levies for the site. Off-site levies include costs to expand water, sewer and road infrastructure in the area.
“The significant investment that Folium is making in building the facility is not small,” Said Ryan Jackson, the general manager of Folium Biosciences Canada. “Any assistance we can get from not having to pay more in the way of off-site levies is critical to our final decision on proceeding with the plant.”
Once again, subsidies yielded no jobs.
Wait until you see who took over for Mr Jackson when he left.
So much more to come!
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