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Prince George Business Incentives
There are a variety of incentive programs in place to enourage business activity in Prince George.
1. Northern Development Initiative Trust
Northern Development Initiative Trust has partnered with the Business Development Bank of Canada to offer the Business Competitiveness Program for Manufacturers which provides reimbursement of 50% of eligible consulting fees to manufacturing businesses in any area including market development and export, operations, ISO certification, and human resource management. This is a value unique to northern BC manufacturers.
Northern Development Initiative Trust also offers the Northern BC Business Advantage:
- Capital Development and Training Rebate- provides eligible businesses in wealth-creating, export-driven sectors of the economy with up to $10,000 per new job based on direct capital investment and training expenditures related to the expansion or establishment of a business where two or more new jobs are created.
- Competitiveness Consulting Rebate - provides small and medium sized manufacturers, resource processing companies, and their first line suppliers with a rebate of 50% of the cost of business competitiveness consulting which will increase productivity, revenues, and profitability for operations located within the Northern Development Initiative Trust region.
2. Downtown Revitalization Tax Exemption
In support of the objectives of the City's Official Community Plan, the City of Prince George has approved the Downtown Revitalization Tax Exemption By-law to assist with redevelopment projects in the downtown. Property owners who make a physical improvement to their downtown property can apply for a tax exemption equal to the amount of municipal property tax that would be payable on the incremental increase in assessed value attributable to the improvement. The exemption is available for a period of five years, with the option to apply for a further five year extension. Improvements eligible for this program are those with a construction value of $50,000 or greater.
Check back soon for newly announced programs!
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