No Fixed Amount
Type of Program:
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:
- 1100% exemption for the first year when that business would otherwise be responsible for the business tax;
- 280% exemption for the second year;
- 370% exemption for the third year;
- 440% exemption for the fourth year.
When It Ends:
Applicants must be:
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.
No specific application steps have been identified.
No specific documentation has been identified.