Our key takeaways, as the association committed to leading, supporting, representing, and enhancing the province’s tourism industry are as follows:
- $13 million for tourism marketing and advertising.
- Close to $1.4 billion to improve highway and road transportation infrastructure over the next five years.
- $1.5 million to improve air access.
- An increase in the exemption threshold from $1.3 million to $2 million for businesses that pay the health and post-secondary education tax or HAPSET.
- $2.2 million to accelerate progress on the goal of welcoming 5,100 newcomers annually by 2026.
Other highlights from today’s budget that can positively impact the tourism industry, attracting visitors and encouraging more resident travel, include:
- More than $140 million to assist residents with workforce development and training for jobs.
- No new taxes or fee increases.
- $2 million for improvements to the National War Memorial.
- $500,000 for upgrades to our provincial park facilities.
- $19.2 million for settlement supports, including those for Ukrainians.
- $3.5 million for Cultural Economic Development Program.
- $1 million for the “Come From Away” production debuting in Gander.
- A green technology tax credit of 20 per cent to help businesses with specific capital costs for green activities such as equipment for energy conservation and clean energy generation and efficient use of fossil fuels.
- More than $500,000 for increased capacity for Environmental Assessment and Regulatory Oversight of Wind-Hydrogen Projects.
- Commission discounts for Wine, spirits and cider producers.
Hospitality NL will continue to monitor budget updates as they develop. To view the 2023 Newfoundland and Labrador Budget, “Your Health. Our Priority”, visit the link below: