U.S. Steel pullout would hit Hamilton hard

Hamilton, ON, Canada / AM900 CHML

Soundcloud

A new report is sounding the warning bell for Hamilton taxpayers if U.S. Steel pulls out of the city at the end of next year.

An analysis to be presented to the city’s Steel sub-committee on Friday says the city would take a 22 million dollar tax hit should the steelmaker pull up stakes.

That’s about 2.3 per cent of the city’s annual tax revenue and the report says losing the plant would leave taxpayers facing a range of new public heath and other costs with fewer resources.

The study was prepared by city staff  in preparation for the end of 2015.

That is when the company’s special pension funding deal with the provincial government expires and sees the end of its commitments to the federal government to operate in Canada.

(Hamilton Spectator)

Comments

  1. Always the dollar amounts. How about the number of people who are effected by this company. Money comes and goes. It is time to stop exchange a human life and the citizens health for dollars so that the governments of any kinds can get more to misuse. Let them leave. It is over due by at least 10 yrs. They should have been out of here in the mid 90.’
    People first, then money.

Leave a Reply