Scaled Tax Program
Amount:
No Fixed Amount
Type of Program:
Tax Credit
Description:
The Scaled Taxation Program provides new businesses with financial incentives to establish roots in Mount Pearl.
Comments on Funding:
Funding will be in the form of a 4-year scaled tax break based on the assessed business tax value of the proposed company. The city will award up to $5,000 per year to each approved applicant in the form of annual tax incentives. The tax incentive will be distributed as follows:
- 1Year 1: the business pays 20% and the city provides 80%;
- 2Year 2: the business pays 40% and the city provides 60%;
- 3Year 3: the business pays 60% and the city provides 40%;
- 4Year 4: the business pays 80% and the city provides 20%;
- 5Year 5: the business pays 100% and the city provides 0%.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
The applicants must be businesses who:
Application Steps:
Applicants must submit the application form in an envelope clearly marked, or as a PDF attachment via email with the subject line, “Scaled Taxation Program Application”. Applications can be dropped off in person, by mail, or emailed to:
The City of Mount Pearl
3 Centennial Street
Mount Pearl, NL A1N 1G4
Attention: Jeremy Schwartz, Marketing and Economic Development Officer
Email: jschwartz@mountpearl.ca
Documentation Needed:
Applicants must submit:
- 1proof of registration with Service NL (or proof of application);
- 2proof of registration with the Government of Canada;
- 3a business plan or expansion outlook that provides an overview of growth plans;
- 4a job outlook that identifies the number of jobs the organization will create over the next 3-5 years;
- 5an outline of the economic viability of the project and the benefits it will provide to the community.
Program Contact:
