Business Tax Incentive

By mmuise
Description:

The City of Corner Brook generous tax incentives to new businesses locating in the Lundrigan Business Park, Watson’s Pond, and Maple Valley Industrial Parks.


Comments on Funding:

Businesses that meet the requirements are entitled to the following incentives:
1. 100% exemption for the first year when that business would otherwise be responsible for the business tax;
2. 80% exemption for the second year;
3. 70% exemption for the third year;
4. 40% exemption for the fourth year.

Deadline: Rolling deadline
Eligibility:

Applicants must be:

  • located in Lundrigan Business Park, Watson’s Pond, and Maple Valley Industrial Parks;
  • new businesses.
    An industry relocating from areas of the City of non-conforming use are not eligible for the exemption unless the property vacated conforms to the zone use within six months from date of being vacated.
Application Steps:

No specific application steps have been identified.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

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About the author
mmuise