At the regular July 20, 2020 City Council meeting, Wetaskiwin City Council approved a new tax incentives bylaw. Bylaw 1969-20 gives provisions for incentives to be offered on municipal property taxes for new industrial developments and expansions.
The bylaw’s provisions will be granted on a sliding scale over a three-year period following occupancy of the development.
“The City has been exploring various ways to attract more growth to Wetaskiwin, and our residents have been very clear about their expectations on this front,” said Wetaskiwin’s Mayor, Tyler Gandam. “The City is confident that this new bylaw will encourage development and help bring new investment into the City of Wetaskiwin.”
Industrial expansions receiving occupancy after July 20, 2020 will be eligible for the incentive.
As part of the City of Wetaskiwin’s ongoing initiative, Council is also considering a proposal to undertake a comprehensive long-term property taxation strategy that will address all area tax rates, taxation classes, the residential to non-residential ratio, and other potential development incentive policies.
“Increasing development in Wetaskiwin aligns with Council’s strategic priorities and the City’s mandate to foster investment and growth in our area,” said Gandam. “This bylaw allows us to leverage MGA provisions to make local development more appealing, and to attract companies seeking to invest or expand in our business-friendly region.”
Bylaw 1969-20 can be viewed on the City of Wetaskiwin website at Wetaskiwin.ca/bylaws.