Support for businesses and entrepreneurs
The Town leaders are supportive of businesses and entrepreneurs and are committed to helping their Town to continue to grow and prosper.
The Town has created a Community Improvement Plan (CIP) to allow for municipal incentives to stimulate private and public sector investment in our community. It includes incentives to stimulate investment and sets out guidelines for public and private sector improvements. The CIP can provide programs for municipal grants, loans, and rebates for private sector improvements.
Big incentives to purchase municipal property
One of the more interesting programs in the Community Improvement Plan is called the Municipal Property Acquisition and Sale Program, which reimburses purchasers by up to a maximum of 90% below market value. Example: Purchase a lot that is $5,000 (must be paid in full), build your home within 2 years as per the terms and conditions, receive your reimbursement of $4,500.
Other examples of some of Smooth Rock Falls’ generous, varied and far-reaching financial incentives for both residential, commercial and industrial include (this is for new builds):
- Enormous tax breaks for new residential build homeowners over three years: 100 per cent the first year, 50 per cent the second year and 25 per cent the third year.
- A generous Tax Increment Grant Program for new commercial build businesses, including: a 75 per cent rebate in year one, 50 per cent rebate in year two and 25 per cent rebate in year three.
To find out more about available incentives, please contact our Economic Development Officer Shannon Piper.
Be sure to download the full Community Improvement Plan document.
