TERRACE BAY – Business – Terrace Bay is looking for new business. The community is feeling revitalized with the investment in the community by Aditya Birla Group.
Terrace Bay has been following very closely the CCAA liquidation process of Terrace Bay Pulp Inc. The Township has held many discussions with representatives of the Court-appointed Monitor who are overseeing the sale of lands to provide information to assist in the sales process and to make clear the desire of the Township to encourage development of residential housing and other infrastructure in the Township.
Terrace Bay eyes purchase of Golf Course
As part of the Township’s efforts to encourage and support local development, it has submitted an offer to purchase the local Golf Course which the Township views as critical to its future vision, current lifestyle and in the best interest of our residents and community.
“While we view the Golf Course as an important asset for the community, we also believe maintaining the golf course as such will provide greater attraction for the remaining lands to be sold to potential developers who view Terrace Bay as a progressive community with a very bright future” said Carmelo Notarbartolo, the CAO and Clerk of the Township.
In a media statement Terrace Bay states, “The Township encourages those who may be interested in considering development projects in Terrace Bay to participate in the upcoming sale process. The Township is happy to speak to anyone who may be considering making an investment in the land that is available for sale concerning the Township’s approach to development especially in light of the current housing shortage since the re-opening of the mill by AV Terrace Bay Inc. We hope to have more information on this in the coming weeks”.
Investing in Terrace Bay
There are business opportunities in Terrace Bay, as with many communities across Northern Ontario. In Terrace Bay, there has been growth and the township has the potential for a great deal more. The local pulp mill was sold to the Aditya Birla Group as part of a $250 million planned investment in the AV Terrace Bay Inc. operation. Also, the Community has seen the recent completion of the Terrace Bay Cultural Centre, the Wilkes Terrace Long Term Care Facility, and the Terrace Bay Downtown Revitalization Project.