Initiatives to Benefit City Businesses

June 22st, 2017: For Immediate Release

The City of Corner Brook is supporting regional economic growth as a catalyst for transforming the City and long-term success for the community.

As a part of the Corporate Priorities Plan, the 2017-2020 priorities are:

– Strategic Priority I: Invest in Quality Infrastructure Development

– Strategic Priority II: Economic Development and Population Growth

– Strategic Priority III: Revitalize our Downtown

– Strategic Priority IV: Sustainable Development and Sports and Eco Tourism

Economic Development Initiatives at the City of Corner Brook:

1. Downtown Urban Design Action Plan

The Downtown Revitalization Project involves the beautification and revitalization of two parks and five traffic islands in the downtown sector. The plan includes new wayfinding, curbs, walkway, sidewalks asphalt patching, sod, park benches, traffic signage, and heritage lighting.

Total Cost is approximately $1.3 million*

2. Corner Brook Civic Centre Conferencing Upgrade Project

The project involves renewing and upgrading existing facilities to respond to the needs of a changing city. It also includes formulating an actionable strategy for exploring and realizing opportunities in the provincial and national convention market.*

Total Cost is approximately $805,000

3. Business Improvement Program (BIP)

The BIP is an initiative aimed at improving the frontal appearance and/or landscaping of commercial properties in the City, while maintaining their traditional character and appeal.

Total Budget for the Tax Credit is $50,000 per year

4. Paint the Town Program

The City of Corner Brook is partnering with the Corner Brook Downtown Business Association, Delux Paints, and the Paintshop to beautify the downtown.*

Total Cost $1,000

5. Incremental Tax Grant program

The City of Corner Brook tax grant program is intended to attract investment in developing, redeveloping or renovating vacant buildings. The program allows eligible investors to receive a tax grant for 5 years.

6. Economic Development Seminar

On June 13th and 14th, 2017, the City of Corner Brook hosted an Economic Development Seminar with keynote speaker Roger Brooks, an expert on travel, tourism, downtowns, community branding and destination marketing. The focus was on building on the competitive strengths of Corner Brook and the region. It was a start to a long-term strategy for sustainable economic activities along with promotion of the region as a preferred destination for investors, tourists and immigrants.*

Total Cost is Approximately $40,000

7. Business Incentive Policy

The Business Incentive Policy provides exemptions of business tax for the first four years of operation. The tax incentive is offered to new noncompetitive industrial developments in the industrial parks. It is also available to current businesses that relocate to industrial parks from their current location, in which their business use is no longer an appropriate use in the zone.

8. General Commercial Business Tax Reduction

In 2017, the General Commercial Business Tax rate was reduced from 17.0 mils to 16.75 mils.

Business Community Savings is over $40,000

9. Cruise Tourism Support

To support local businesses the City of Corner Brook invests in cruise visitors by providing operational and Public Works support.

10. Business Facilitator

The Business Facilitator provides assistance and resources for businesses looking to open or expand, including:

– improving the level of communication and engagement in the business community
– connecting entrepreneurs with programs to help start, expand, or operate a business
– new business initiatives and programs
– streamlining the internal process to improve operational effectiveness, efficiency and business support across the organization

11. Working with Developers and Businesses to Improve Processes and Streamline Regulations

Over the last three years City Council has been working on improving and streamlining business development processes among its priorities. Since then great strides have been made to improve efficiency and reduce delay through mapping, analysis, process redesign supporting resources, and implementing change.

*additional support provided by Atlantic Canada Opportunities Agency ACOA ^1,2,6Government of NL ^{1, 6}and Downtown Business Association ^{1, 4}Delux Paints, and the Paintshop ⁴

Another Project being Developed:

The City of Corner Brook is working with professional consultant and funding agencies to develop a Public Transit Feasibility Study designed to provide a sustainable, efficient and convenient public transportation network.

Quotes

“Corner Brook is focused on the needs of the business community, fuelled for growth we support businesses as a key to our success. A wide range of initiatives have been developed to ensure welcoming and sound policy is at the forefront of decision making. We have been supporting and working with the Greater Corner Brook Board of Trade, Corner Brook Visitor Centre, industry, and others to provide services to businesses. Council provided over $ 250,000 in community grants which brings events, tournaments, and visitors to our City that benefits local businesses.

We are here to help businesses grow and prosper. If you are an entrepreneur or business owner looking for business support we encourage you to contact the business facilitator and learn about the City programs and ways that we can assist your business.”

– Charles Pender, Mayor, City of Corner Brook

“Corner Brook is the commercial hub of the Western Region. Annually as a part of the budget process the City of Corner Brook continues to invest in business, regional infrastructure and capital works to help drive local jobs and regional economic growth. Business start-up, expansion services, and grants are available to city business owners. Programs and staff can assist with facade improvements, city processes, financing options or to network with other business leaders. I look forward to working with the members of the community to support economic development, generating the jobs and growth we need to keep our City prosperous.”

– Bernd Staeben, Deputy Mayor, City of Corner Brook

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FOR FURTHER INFORMATION CONTACT:

Bonita Decaire
City of Corner Brook | Information Officer
709-637-1662 | bdecaire@cornerbrook.com

Associated links:

Business Start-up Checklist

https://www.cornerbrook.com/business-start-checklist/

Business Tax Credits

https://www.cornerbrook.com/business-taxes/

Financing Programs

https://www.cornerbrook.com/financing-programs/

Business Improvement Program 2017 (BIP)