North Battleford is adopting a broad-based tax incentive policy to attract businesses and jobs to the city.
The policy was presented to council Monday night by Jennifer Niesink, director of Business Development, after initial discussion at Executive Committee.
The idea behind it, Niesink told council, is to “encourage investment and expansion” to North Battleford and decrease the number of vacant buildings.
As well, the policy is also being brought in to ensure there is consistency and a formal process to guide administration’s recommendations to council, according to a memo brought to council on the subject.
The policy includes a number of eligibility requirements. To be eligible the business must be a legally incorporated entity involved in one or more of the following industries: renewable energy, manufacturing (processing or value chain added), oil and gas, mineral processing or agriculture.
Eligibility requirements include being the legal owner of the property, having in place the required financial resources to complete the project, having a viable business plan, creation of new, full-time employment, being licensed to operate in North Battleford and being subject to commercial taxation.
The amount of incentive received is to be based on a combination of jobs created, industry, location and permanency of the project. Specific incentive amounts will be based on a points scale where points are awarded based on, in order of importance: jobs created, annual pay for 10 or more employees, whether there is a new building, salvage of an existing building if a new building is going up and whether a business is new to North Battleford.
Based on that points scale, the tax incentive awarded could be anywhere from zero to five years, maximum.
There is an application process, and Niesink advises anyone who is interested to contact City Hall about it.
Councillor Ryan Bater supported the incentives, and said he liked the idea of having a set policy to attract business to the community. He pointed to the industries that were specified in the policy.
“All of these industries are export industries,” said Bater. “ It’s all about attracting new dollars into the community, not recycling existing dollars that are being circulated here. I think that’s very important.”
Council has approved the incentive policy unanimously Monday.
