The city’s debt load at the end of 2023 was $325.9 million, and city council has greenlit securing an additional $259.4 million. This includes $124.4 million toward infrastructure and $135 million toward a new arena/events centre in Downtown Sudbury.
Under provincial guidelines, which allow for a greater debt threshold, the city could incur as much as approximately $1.3 billion in debt beyond current levels. Although debt incurs interest, unspent debt is invested where it earns interest. Last year, the city’s total investment income was $37.9 million. A city spokesperson told Sudbury.com they do not uniquely track interest earned on unspent debt.
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