Deer Lake Business Tax Incentive Program
To encourage the development of new business in the community the Town Council of Deer Lake has approved a Business Tax Incentive Program. The incentive exempts the new property from Business Tax for the first year and phases the tax in over five years as follows:
The incentive is also available to existing businesses that expand their operation and increase the assessed value by $50,000 or more.
Economic Diversification and Growth Enterprises Program (EDGE)
Deer Lake is also a participating community of the Economic Diversification and Growth Enterprises (EDGE) Program offering tax incentives to qualifying companies. The incentive is also available to existing businesses that expand their operation and increase the assessed value by $50,000 or more
The EDGE Program is designed to provide a package of incentives to encourage significant new business investment in the province to help diversify our economy and stimulate new private sector job creation, particularly in rural areas.
Companies approved for EDGE status setting up in Deer Lake shall be entitled to the following incentives and benefits:
A new business or an existing business interested in expanding in the province may apply for EDGE status if it meets the following criteria:
Government will appoint a facilitator to help an EDGE corporation obtain permits, licenses and other government regulatory requirements to proceed with its business plan.
How to Apply
For additional information and an EDGE application form, contact any office of the Department of Industry, Business and Rural Development at 1-800-563-2299 or visit www.gov.nl.ca/ibrd.
The Town of Deer Lake is a participant in the Bizpal program. BizPaL is a partnership involving governments at the federal, provincial, territorial and municipal levels. Provinces, territories and hundreds of municipalities have collaborated together to provide you with the permits and licenses that may be required to start and grow your business.
A project by The Western Star / Star Style