Business Development Incentive
Fuel your growth with a range of incentives, including tax credits, grants, low-interest loans, and funding programs. Whether you’re launching, expanding, or innovating, our business-friendly environment provides the support needed to reach your goals faster.
Administered by SREDA, the City of Saskatoon established tax abatement incentives to encourage the attraction and expansion of businesses to facilitate investment and long-term job creation. These Business Development Incentives may include exemptions or reductions of city taxes or fees, waiving of utility deposits and down payments on land, and exemptions or reductions of prepaid servicing levies.
Eligibility Criteria
- Be a legally incorporated entity
- Be involved in energy, oil and gas, mining, manufacturing, processing, technology, transportation and logistics, telecommunications, or data processing
- Demonstrate that a minimum of five new full-time positions will be created within one year for existing businesses, and a minimum of 15 new full-time positions within three years for new businesses
- Invest a minimum of $500,000 in plant, land, and/or leasehold improvements
- Possess the required financial resources to complete the project
- Be the legal owner of the property or provide a copy of the lease agreement upon application
You 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.
The following must be submitted before an application can be processed:
- Business plan/executive summary that includes a clear and concise description of the new expansion project, the number of full-time jobs to be created, the size of investment made for land, buildings, and/or leasehold improvements
- Copy of blue prints for the new building, expansion, or renovations
- Recent financial statements or letter from the bank indicating that the applicant has the financial resources to complete the project
- A current payroll list (including names, positions, and full-time equivalents)
- If the applicant is not the legal owner of the property for the planned build or expansion, provide a copy of the lease agreement upon application
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Business Development Incentives
Incentives may include exemptions or reductions of city taxes or fees, waiving of utility deposits and down payments on land, and exemptions or reductions of prepaid servicing levies.
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