News

Program adopted to attract business

City council adopted an industrial revitalization tax exemption program at its Tuesday meeting to attract investment.

Council expects the program to provide another tool to attract investment in the community and offer incentives to current industries to upgrade their facilities.

The City says the program is unique since it links the amount of tax exemption to three goals: capital investment, job creation, and green building initiatives. The program provides three classes of tax exemption for industrial properties in the north end of Williams Lake and at the Williams Lake Regional Airport.

Tax reductions are offered through three classes of five-year declining exemption terms, with higher scoring developments receiving higher tax exemptions.

The City will realize new tax revenues from each property participating in the program in the second year of their exemption term and beyond.

“Increased revenue from additional industrial investment may help us reduce tax rates for all properties in the industrial rate class,” says Mayor Kerry Cook. “That is something this council has promised to address, and we will continue to work to foster a positive atmosphere for business and industrial development in Williams Lake.”

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

Community Events, July 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Jul 23 edition online now. Browse the archives.