City of Saskatoon Business Development Incentive

Businesses must meet the following eligibility criteria:

1. A minimum investment of $500,000 in building, land, or leasehold improvements is required.
2. A minimum of 5 new full-time jobs must be created and maintained throughout the abatement.
3. Businesses must operate in one of the following sectors: energy, oil and gas, mining, manufacturing, processing technology, transportation and logistics, telecommunications, or data processing.

Businesses must apply for an incentive before beginning with an expansion or new building project and prior to applying for a building permit through the City of Saskatoon.

• Connect with SREDA
  Tell us about your project — we’ll help you determine if it qualifies.
• Apply
  Submit your simple application with key business and project details.
• Review
  SREDA reviews your application for eligibility and submits it for City approval.
• Approval
  Your application is presentented to City Council for approval.

• Grow and Save
  Begin construction and receive a property tax abatement for up to 5 years.
  
  Applications remain active for one year from the date they are received. If an application is not completed within this time, it will be considered closed and no longer eligible for review.

Every expansion project is different, but the savings can be significant. Abatements are calculated based on the incremental increase in property tax from the newly assessed value of the property.

Successful applicants can expect to receive a sliding scale abatement:

In cases where a project creates significant employment, applicants may be eligible for a full 100% abatement across all five years.

• One copy of your Business Plan and/or Executive Summary.
• A copy of ISC Profile Report indicating entity type, status and incorporation date.
• A copy of the blue prints for the new building, expansion, or renovations.
• Recent financial statements or a letter from a bank indicating that the applicant has the financial resources to complete the project in question.
• A current payroll list (including names, positions and full-time equivalents).
• A copy of the lease agreement for the property in question, if not legally owned by the applicant.