May 8, 2003
NEWMARKET Ė The Regional Municipality of Yorkís Finance and Administration Committee today approved $250,000 in economic development funding to implement an Emergency Marketing and Recovery Plan. The Plan will assist York Regionís business community in their recovery from the economic impact of Severe Acute Respiratory Syndrome (SARS).
At the April 17th York Regional Council meeting, staff were directed to review and respond to the SARS situation. A Report of the Chief Administrative Officer, which included a preliminary assessment, indicates that SARS has temporarily eroded consumer and investment confidence and the Regionís economy has been negatively affected. Although an accurate estimate of the full impact in York Region is not available at this time, the tourism and hospitality industries have been immediately affected. The ripple effect on the overall economy could be significant.
"Rebuilding consumer confidence in the tourism and hospitality industry and boosting the profitability of various York Region business sectors is key to economic recovery," said Regional Chair and CEO Bill Fisch. "This additional funding is necessary to help speed up that recovery and to ensure the economic health and prosperity of our Region."
The components of the Emergency Marketing and Recovery Plan include:
The Plan will be implemented in partnership and consultation with local area municipalities, Chambers of Commerce, the business community and other key stakeholders. York Region will also work together with other levels of government in their recovery plans and initiatives to achieve maximum impact.
In addition, the Region will encourage other area municipalities to take the Town of Richmond Hillís lead in issuing property tax relief to businesses negatively affected by SARS.
For more information on The Regional Municipality of York, the services we offer and links to our nine area municipalities, please visit our Web site at: www.region.york.on.ca.
Contact: Patrick Casey, Senior Media Relations Specialist, York Region