I’m seeing misinformation circulating about Elexicon dividends and their impact on the Town of Whitby’s budget and I want to provide clarity and context.

In September, it was publicly announced that Elexicon and its municipal shareholders - including the Town of Whitby - are making a collective equity investment of more than $62 million into the company. Whitby Council endorsed this strategic direction at a meeting in August.

This is not a loss of funding - it is a reinvestment.

Claims that this will cost Whitby taxpayers $12 million or trigger a significant property tax increase in 2026 are not accurate.

The actual impact is a $3.2 million reduction in revenue to the Town in 2026. This is one of several factors that will influence next year’s budget - alongside inflation, growth-related costs, provincial downloading, and aging infrastructure.

This shift was anticipated. In fact, Council began reducing the Town’s reliance on Elexicon dividends in the operating budget as early as 2023. We planned ahead.

Elexicon is entering a period of significant growth. This reinvestment directly benefits all shareholder communities. In Whitby this means supporting essential projects - including new housing, the future Whitby hospital, the new Sports Complex, and priorities outlined in our Community Strategic Plan.

When dividends resume, they will be placed in a dedicated reserve fund - not used to balance the annual operating budget. This is a more sustainable and fiscally responsible approach, similar to how other municipalities, like Pickering, manage revenues from sources like casinos.

This direction is strategic, forward-looking, and designed to support Whitby’s long-term growth and financial stability.

Learn more about the Town’s 2026 Budget by visiting connectwhitby.ca/budget and reading my open letter. 

More Information

Building Whitby’s annual budget is one of the Town’s most important responsibilities. It’s a careful balancing act as the Town invests in the services and infrastructure that residents rely on every day, while working to keep life in Whitby affordable.

For media inquiries, please contact:

Jillian Follert
Public Affairs Coordinator, Office of the Mayor
Phone: 289.314.9101
Email: follertj@whitby.ca

Erin Mikaluk
Manager, Communications and Creative Services, Town of Whitby
Phone: 289.314.6913
Email: mikaluke@whitby.ca