Niagara Falls could be getting a new, world-class observation wheel under a plan by the Ontario government to position the region as a world-renowned tourism destination. On Monday, the provincial government launched its multibillion-dollar Destination Niagara Strategy , which aims to create new attractions and improve the region's transportation network to bring in 25 million annual visitors and double its tourism impact. Premier Ford's strategy will target improvements and new developments across five categories, including tourism attractions, gaming, wine and culinary tourism, arts and culture, and transportation development. The revitalization of the Toronto Power Generating Station into a boutique hotel, located along the Niagara River, is already underway, and potential projects include a new theme park, the restoration of the Niagara Parks marina, and a new observation wheel. "Niagara Falls is ready with open arms to welcome even more of the world to experience the wonder of our City. Premier Ford, Minister Cho and the Government of Ontario's bold vision and investments show strong support and belief in Niagara," said Jim Diodati, Mayor of Niagara Falls. "Today's announcement will help level up our tourism economy and drive major new private sector investment, generating great job opportunities for residents and helping to ensure Niagara remains on the bucket list of visitors from around the world." Transportation improvements will include expanding the QEW in Niagara, twinning the Garden City Skyway, and increasing GO service to the region. Building on the success of its new immersive flying theatre attraction, Niagara Takes Flight , the provincial government is launching a series of procurements to develop a "world-class observation wheel" in Niagara Falls, similar to the Las Vegas High Roller and London Eye. The High Roller in Vegas, for reference. Photo: Jack Landau. Since opening in August, Niagara Takes Flight has already welcomed more than 120,000 visitors and generated almost $3.5 million in gross revenue. This is not the first time a member of the Ford political dynasty has proposed an enormous Ferris wheel in Ontario. Former Toronto Mayor Rob Ford famously proposed one during his tenure as part of a redevelopment plan for the Port Lands, although the idea was widely criticized. The Ford government is also launching a Request for Information to explore the potential of a signature theme park attraction, as well as a possible Niagara River attraction, which would be an all-season automated electric tram running 3.8 kilometres through Queen Victoria Park. Along with these new attractions, the province has also invested $35 million in the Shaw Festival's rebuild of the Royal George Theatre, and more than $1 million in funding for festivals and events in the region.