Starting a new business? Expanding you current operation? Save money by doing it in the Saskatoon region.As one of the economic hot spots hot spots acute moist dermatitis. in Canada, companies are continuing to expand current or set up new operations in the Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. region. Competitive business taxes, utility rates and a well-educated
labour force are excellent reasons to locate a business in the Saskatoon
region. Furthermore, by locating in the Saskatoon region, companies can
benefit from local property tax incentives that are offered to new and
expanding companies.
The City of Saskatoon has two formal incentive policies and surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. towns and rural municipalities A rural municipality, often abbreviated RM, is a form of municipality in the Canadian provinces of Manitoba and Saskatchewan, perhaps best comparable to counties or townships in the western United States. each offer specific incentives to encourage companies to locate and expand their operations in the region. Incentives such as tax abatements and rebates for building permit fees and various planning fees are currently available to new and expanding businesses. The business development policy offers a graduated five-year tax abatement A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent. With respect to estates, an abatement is a proportional diminution or reduction of the monetary legacies, a disposition of property by will, when starting with 100 per cent in year one and ending with a 50 per cent abatement in year five. The purpose of the policy is to encourage companies to locate or expand their operations in Saskatoon, create new employment opportunities, place Saskatoon in a competitive position in attracting businesses that it would not otherwise occupy, increase the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. viability of a project, and/or demonstrate the city's commitment to a business or industry. To qualify, a minimum of $100,000 must be invested along with the creation of five new, full-time positions for an expanding company or 15 new full-time positions for a new company. When 100 new full-time positions are created, companies are eligible for a tax abatement of up to 100 per cent for five years. Only companies in the manufacturing, processing, technology, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , and data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a sectors can qualify for this incentive. [ILLUSTRATION OMITTED] Similar multi-year tax abatement incentive policies are also available to companies considering a rural location near Saskatoon. Information on these policies is available in the regional partners section of our Web site (www.sreda.com). Programs offered in Saskatoon's Enterprise Zone are designed to encourage targeted businesses to locate or expand their operations in order to create more economic activity, and encourage residential property owners and developers to invest in the renovation, expansion or creation of new housing, increase consumer and investor confidence and demonstrate the city's commitment to improving conditions within the zone. The municipal enterprise zone policy is focused on eight neighbourhoods that may be at risk of falling further behind the rest of the city in terms of income, job creation, economic opportunity, property values, and some essential commercial services. A variety of business uses fall within the guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. of this policy with incentives including tax abatements, fee rebates, and environmental screening charges. SREDA accepts applications for incentives on behalf of the City of Saskatoon. To be eligible, an application for these incentives must be received at the SREDA office before applying for a building permit at City Hall. For more information on municipal incentive policies in the Saskatoon region and application forms, please contact SREDA via email at info@sreda.com or by phone at 306.664.0707. |
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