New motor speedway approved for Fort Erie, Ontario Staff

11/5/2012 11:12:31 PM

The project to build a new auto racetrack in Fort Erie, Ontario has been given a green light to proceed.

On Monday, the Ontario Municipal Board rejected all appeals against the proposed Canadian Motor Speedway, a $400-million racing facility and entertainment complex that will feature race seating for 65,000.

The complex is scheduled to feature both a one-mile speedway oval and a 2.5-mile road course.

"This will be a world class facility that will attract visitors from all over North America. We are very anxious to begin the next steps in seeing the speedway become a reality," said Canadian Motor Speedway executive director Azhar Mohammad in a statement.

The news comes as a boon to the area, which was forced to close its Slots program at Fort Erie Racetrack after an Ontario government decision last spring.

"The decision emphasizes the importance of the Speedway in supporting economic diversity and promoting increased opportunities for economic development," Fort Erie Mayor Doug Martin told the Niagara Bullet News.

"The town prides itself on its 'open for business' attitude and is more than ready to roll up its sleeves and get those shovels in the ground."

- with files from the Niagara Bullet News