Investing Incentives

If you are a business looking to relocate or expand, the City of Corner Brook offers a friendly business environment that supports the growth and development of all types of operations. Businesses can expect to have access to skilled labour, education and training facilities, inexpensive land, and established transportation and communications networks surrounded in a natural environment that offers activities for all your heart may desire. Corner Brook residents enjoy a low cost of living with a high quality of life. This creates an excellent culture to conduct business and raise a family.

Corner Brook participates in the Provincial Economic Diversification and Growth Enterprises Program which provides qualifying businesses with federal, provincial and municipal tax rebates for 15 years followed by a five year phase out period. Businesses can also access un-serviced crown land for $1.

The Provincial Department of Business offers a Business Attraction Fund which provides customized financial assistance to inward investors (those from outside the province) in support of start-up or business expansion within the province of Newfoundland and Labrador. Funds can be dispersed for loans, advancements, or investments. There is also an allocation of funds for non-repayable contributions for investments in infrastructure support costs, human resource costs, etc.

Exclusive to the City of Corner Brook, we offer a business tax incentive policy to person(s) establishing a new non-competitive industrial development in the industrial parks or relocating from a non-conforming use to the industrial parks. Eligible businesses would receive tax exemptions of 100% for year one, 80% for year two, 70% for year three, 40% for year four.

Whether you are new to Canada, new to the province, new to Corner Brook, or a current resident of the city, there may be a program to assist in starting or expanding your business. Various programs provide support with business financing, foreign business investment, research and development, tax credits and wage subsidies.
 
Please note: The information in this section is to be used as a guide only. Contact the applicable agency directly for detailed information on their programs.