City of Corner Brook

ECONOMIC DEVELOPMENT

Economic Development Initiatives

The Business Resource Centre was established at City Hall in March 2007. The Business Resource Centre's main purpose is to :

Support Existing Business;
attract new business; and
work with other groups for economic development

Tax Incentives

The City of Corner Brook participates in the Provincial Economic Diversification and Growth Enterprise (EDGE) Program. As part of the provincial government's goal to diversify the economy and stimulate private sector job creation, the offer substantial tax relief and start-up assistance to new businesses. These incentives supplement a wide range of other support programs already available in the province.

Businesses that meet the criteria can be designated at an EDGE corporation and avail of incentives such as a 10 year holiday from provincial corporate income tax, payroll tax and retail sales tax, followed by a five year phase in of these taxes.

The City of Corner Brook also offers generous tax incentives to new businesses locating in the Country Road, Watson's Pond and Maple Valley Industrial Parks. Businesses that meet the requirements are entitled to the following incentives:

100% exemption for the first year when that business would otherwise be responsible for the business tax
80% exemption for the second year
70% exemption for the third year
40% exemption for the fourth year

The Business Community

Corner Brook's business community has a tradition of working together to sustain and improve the local economy. The City has a number of associations that allow businesses to share experiences and resources to strengthen the economy. These include the Corner Brook Downtown Business Association, The Greater Corner Brook Board of Trade, Rotary Clubs and the Newfoundland and Labrador Organization of Women Entrepreneurs.

Business Resource Centre Staff Directory:

Trina Burden - Business Resource Manager
tburden@cornerbrook.com
709-637-1558

709-637-1586

Michelle Walsh - Office Administrator
business@cornerbrook.com
709-637-1588

CLICK HERE to download a Community Profile of Corner Brook. (size 2.2m)
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CLICK HERE to download Community Information . (size 2mb)
To save document "Right Click" on selection and then "Save Target As"

Additional information is available through our office. Please Contact Us