Tax Increment Financing: New or Expanded Business Grant
No fixed amount
Tax Credit
Description:
A New or Expanded Business Grant is payable for new or expanded businesses or non-profit organizations that will create and maintain at least new 10 jobs after completion and that align with the economic development objectives in OurWinnipeg 2045 and the Economic Growth Action Plan
Comments on Funding:
Approved development projects will receive a grant equal to 80% of the incremental municipal taxes paid:
1. for a maximum of 10 years if in the Downtown
2. for a maximum of 5 years if in Intensification Target Areas
The maximum grant per project is $2 million (aggregate of all years).
March 31, 2025
Eligibility:
Key conditions:
1. The development must involve the creation of a new or expanded business or activity that will result in the creation of at least 10 full-time jobs.
2. The jobs align with the economic development objectives in OurWinnipeg 2045, Complete Communities 2.0 and other economic growth plans of the Province of Manitoba.
3. The development includes a minimum of $10 million in capital investment from non-governmental sources, and will be financially supported by another level of government (e.g. grant, tax credit, loan).
4. The development complies with all terms and conditions of The City of Winnipeg Program By-Law, including a requirement that the project has NOT started construction before receiving approval of the grant.
Application Steps:
Applicants must apply online at Incentive grants application
Documentation Needed:
Applicants must submit:
1. Application Workbook
2. Project budget (i.e. Third-party construction budget to support the application)
3. Project drawings/architectural plans
Other Things to Note:
Eligible development project locations are:
1. The Downtown, as established in the City of Winnipeg Downtown Winnipeg Zoning By-Law, but NOT within the SHED TIF Zone as defined in By-law No. 98/2012.
2. Intensification Target Areas in Winnipeg, but NOT in Greenfield Supply Areas as described in the Heritage and Economic Development Incentive program map.
About the author
Maurice
