Sunday, June 03, 2007


Steady Brook Resort

Steady Brook getting four-star resort development Post a comment print this article

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The Western Star

Construction on a four-star, high-end tourism complex could begin in Steady Brook as early as July.

An announcement of a 45 per cent resort property investment tax credit by the provincial government on Friday ushered in the news of the impending resort. The tax credit is designed to encourage individuals and corporations based in the province to invest in selected tourist resort properties, as well as to encourage new resort developments with high-end amenities and services in areas of the province outside the northeast Avalon Peninsula.

“The new resort property investment tax credit sends a clear message to potential developers from the international marketplace — we have confidence in our tourism product and are eager to partner with industry players to continue to grow the tourism business base,” said Business Minister Kevin O’Brien in a release.

“Our government will continue to make strategic investments in this industry to diversify our economy and to invest in rural areas that offer so much to our visitors to create a stronger and self-reliant Newfoundland and Labrador.”

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