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Yes. But many people have suggested a more moderate version of the event - I believe VIP has gone this route
 
I is worth mentioning that the other two variants actually significantly lower the costs for colonial buildings, just as for the factories.

Jan Peter
 
jpd said:
I is worth mentioning that the other two variants actually significantly lower the costs for colonial buildings, just as for the factories.

Jan Peter
Right, but since there is no way of "expanding" a colonial building, there is a balance issue to consider. I have not checked yet the effect on forts, ie whether a fort is expanded or a "new" fort of higher level is built atop the old.