By battlefordsNOW Staff

New policy aimed at luring business to North Battleford

Jun 16, 2016 | 2:09 PM

The city of North Battleford has adopted a formal policy for providing tax breaks as an incentive to lure new businesses to the city, and for existing companies to expand.

City council approved the business incentive policy during its June 13 meeting. It sets out minimum and maximum incentives, along with a number of criteria, including certain sectors of business a company must be involved in to be eligible: renewable energy, manufacturing, oil and gas, mineral processing, and agriculture.

A tax incentive matrix will determine how much of a break an applicant will receive, starting at one year of 100 per cent plus one year of 50 per cent exemption, to a maximum of five years, 100 per cent. It applies to both municipal and school tax. Points will be based on the number of jobs a project creates, the location, how permanent an enterprise is, and special circumstances such as renewable energy.

According to the policy, the city hopes in particular to fill vacant buildings and see more development downtown.

Applicants must also show they have the resources to complete a project and provide a viable business plan. Those interested are encouraged to contact Jennifer Niesink, the city’s director of economic development, before submitting their requests to talk over options.

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Creation of the plan was guided by the Battlefords Regional Opportunities Plan, which sets out to grow the area’s economy in ways most likely to succeed. Areas include aboriginal engagement, value chain manufacturing, mineral processing, oil and gas, agriculture, and alternative energy.

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