Small Business Week: Tax Incentives

We’re continuing our Small Business Week series with another look at the tools available to support investment and growth in Peace River.
 
In today’s video, Benji Giesbrecht from the Economic Development Committee speaks from the future Wendy’s site at the West Peace Plaza and explains the Town’s Industrial & Commercial Tax Incentive Bylaw, a new option designed to help spur major development.
 
Projects that create at least $150,000 in increased assessed value and include a minimum capital expenditure of $150,000 may be eligible for a phased tax exemption as follows:
 
  • Year 1 — 75% exemption
  • Year 2 — 50% exemption
  • Year 3 — 25% exemption
Up to a maximum of $250,000 in total exemption.
 
The program applies to projects where permits are issued on or after January 1, 2025.
 
Tools like this are meant to encourage development that helps build the local tax base and supports business growth in Peace River.
 
Thank you to small businesses, and businesses of all sizes, that contribute to Peace River!