Tourism businesses in NOTL are expected to see a positive financial outcome from Tourism-Oriented Directional Signing, according to Ontario's Government for the People.
Government for the People worked out a deal with TODS which freezes costs for highway signage directing people to tourist areas.
The deal will allow businesses a one-year moratorium on price increases and give them time to figure out their next steps.
“Tourism operators [now have] the necessary time to begin budgeting for increases in advertising costs through the TODS program,” said Brett Weltman, press secretary, Ministry of Tourism, Culture and Sport.
TODS has more than 3,000 customers in the province that use its program to generate revenue and positive economic impacts in their respected communities.
According to Minister of Tourism, Culture and Sport Michael Tibollo, financial concerns were expressed by tourism businesses throughout the province.
“The previous government deliberately froze prices for 10 years, ignoring the cost of inflation, and completely failed to communicate with TODS customers,” said Tibollo in a press release.
Although the prices have frozen for 2019, the rates are still expected to increase over time. The increase will depend on the size, location and amount of signs.
“We look forward to continuing to work with Canadian TODS Limited over the coming year to look for ways we can help mitigate this price increase,” said Weltman.