Starting a new business? Expanding you current operation? Save money by doing it in the Saskatoon region.

As one of the economic hot spots in Canada, companies are continuing to expand current or set up new operations in the Saskatoon region. Competitive business taxes, utility rates and a well-educated labour force are excellent reasons to locate a business in the Saskatoon region. Furthermore, by locating in the Saskatoon region, companies can benefit from local property tax incentives that are offered to new and expanding companies.

The City of Saskatoon has two formal incentive policies and surrounding towns and rural municipalities each offer specific incentives to encourage companies to locate and expand their operations in the region. Incentives such as tax abatements and rebates for building permit fees and various planning fees are currently available to new and expanding businesses.

The business development policy offers a graduated five-year tax abatement starting with 100 per cent in year one and ending with a 50 per cent abatement in year five. The purpose of the policy is to encourage companies to locate or expand their operations in Saskatoon, create new employment opportunities, place Saskatoon in a competitive position in attracting businesses that it would not otherwise occupy, increase the long-term viability of a project, and/or demonstrate the city's commitment to a business or industry. To qualify, a minimum of $100,000 must be invested along with the creation of five new, full-time positions for an expanding company or 15 new full-time positions for a new company. When 100 new full-time positions are created, companies are eligible for a tax abatement of up to 100 per cent for five years. Only companies in the manufacturing, processing, technology, telecommunications, and data processing sectors can qualify for this incentive.

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Similar multi-year tax abatement incentive policies are also available to companies considering a rural location near Saskatoon. Information on these policies is available in the regional partners section of our Web site (www.sreda.com).

Programs offered in Saskatoon's Enterprise Zone are designed to encourage targeted businesses to locate or expand their operations in order to create more economic activity, and encourage residential property owners and developers to invest in the renovation, expansion or creation of new housing, increase consumer and investor confidence and demonstrate the city's commitment to improving conditions within the zone. The municipal enterprise zone policy is focused on eight neighbourhoods that may be at risk of falling further behind the rest of the city in terms of income, job creation, economic opportunity, property values, and some essential commercial services. A variety of business uses fall within the guidelines of this policy with incentives including tax abatements, fee rebates, and environmental screening charges.

SREDA accepts applications for incentives on behalf of the City of Saskatoon. To be eligible, an application for these incentives must be received at the SREDA office before applying for a building permit at City Hall. For more information on municipal incentive policies in the Saskatoon region and application forms, please contact SREDA via email at info@sreda.com or by phone at 306.664.0707.