Media Release – Wednesday, June 29, 2011
Business Development Incentives Released:
Saskatoon, SK – The Saskatoon Regional Economic Development Authority (SREDA) announced today changes to the current City of Saskatoon tax abatement incentive program. These changes will significantly enhance the current Incentives Policy C09-014 – which now reads that eligible companies in energy, oil and gas, mining, manufacturing, processing, technology, transportation and logistics, telecommunications and data processing sectors are eligible to apply. SREDA is currently the managing organization for this program.
Incentives can include::
- exemptions or reductions of any city tax or fee
- waiving statutory rights (i.e. utility deposits and down payments on land)
- exemptions or reductions of prepaid servicing levies.
The program was created for eligible businesses to:
- encourage them to locate or expand their operations in Saskatoon in order to create long term, skilled or semi-skilled jobs;
- provide tax relief that will flow to companies creating new jobs;
- place Saskatoon in a competitive position in attracting businesses that it would not otherwise occupy;
- increase the long-term viability of a project; or
- demonstrate the City’s commitment to a business or industry.
For further details, please visit our website at www.sreda.com (Business Section)
Or Contact:
Tim LeClair, CEO
Saskatoon Regional Economic Development Authority
(306)664-0723
