Pubdate: Thu, 09 Apr 2015
Source: Nanaimo Daily News (CN BC)
Copyright: 2015 Nanaimo Daily News
Contact:  http://www.canada.com/nanaimodailynews/
Details: http://www.mapinc.org/media/1608
Author: Robert Barron

REPORT REVEALS ECONOMIC VALUE OF TILRAY TO THE CITY

Report Indicates Business Paid $8.5m in Tax Revenue Alone

The new report, which was presented Wednesday morning, states that 
Tilray contributed approximately $8.5 million in tax revenues to all 
three levels of government in 2014. Tilray, the medical-marijuana 
production facility at Duke Point, has contributed approximately $48 
million into the local and B.C. economies in 2014, according to the 
accounting firm MNP LLP.

That includes the total direct, indirect and induced economic impacts 
of the construction and operation of Tilray's 60,000 square-foot 
facility in Nanaimo last year.

As well, the report stated that Tilray has contributed more than $3.2 
million in direct wages and salaries in the local market place and, 
while the facility directly employs 120 people at this time, there 
are approximately another 280 full-time workers indirectly connected 
to the facility.

The report, which was presented at a reception downtown Wednesday 
morning, also stated that Tilray's Nanaimo operation has contributed 
approximately $8.5 million in tax revenues to all three levels of 
government in 2014.

"Nanaimo welcomed us with open arms and we are delighted that our 
operations have had such a positive impact on the community," said 
Greg Engel, Tilray's CEO.

"We look forward to continuing to invest millions of dollars and 
create hundreds of jobs in Nanaimo, pending necessary regulatory 
approvals (from Health Canada) needed for our proposed expansion."

If given the green light to proceed from Health Canada, Tilray's Duke 
Point operation would tentatively increase to a total area of 265,000 
square feet of production area, with the possibility of adding 
another 275 jobs at the facility which would make the operation 
Nanaimo's number-one employer.

Sasha Angus, CEO of the Nanaimo Economic Development Corporation, 
said Tilray has already been given approval for 16 additional grow 
rooms, and is awaiting approval of six more.

Nanaimo Mayor Bill McKay said Tilray's development in Nanaimo has 
"hit some bumps" along the way, but officials from the NEDC, city 
hall and staff have worked hard to help the company succeed in the city.

Nanaimo city council approved a rezoning application for Tilray's 
expansion plans, pending regulatory approval, in December.

"The relationship between Tilray and the NEDC is not only a Nanaimo 
success story," McKay said. "It's a tremendous case study for 
successful collaboration between local and regional governments and a 
dynamic and growing corporate citizen."
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MAP posted-by: Jay Bergstrom