City of Charlottetown
The City of Charlottetown is open for business and has established a suite of tax incentives designed to assist and encourage property development in knowledge economy sectors, downtown commercial growth, and re-development of non-conforming properties. Call us and we will be very interested to discuss your future opportunities here in Charlottetown.
The City of Charlottetown has incentives to encourage new investment into the community. The objective of the tax Incentive Strategy is to encourage the expansion and/or rejuvenation of commercial properties within the City of Charlottetown. The Strategy is directly aimed at enhancing and maintaining the vitality of commercial properties in the city which will augment the tax base of the future.
The incentive is designed to encourage investment in three areas:
1) New construction or redevelopment for business in the bio-technology, financial services, and IT sectors.
2) Re-development of existing commercial properties for commercial purposes.
3) Re-location on non-conforming businesses to more appropriate locations. The program provides tax rebates over a five year period based on the increased assessment portion of the property. The rebates are based on municipal taxation only.
Province of Prince Edward Island
The Provincial Government offers many programs for prospective business including:
- 25%, 1 year Innovation and Development Labour Rebate (IDLR)
- 7.5% 10 year labour rebate for eligible financial service/BPO/IT companies
- $6/sf space rental rebate
- Bioscience, Aerospace and Marine sectors – Provincial corporate income tax rebate programs
- Real Property Tax rebates
The Atlantic Canada Opportunities Agency offers assistance to new and expanding businesses:
- Business Development Program – Funding to assist start-ups and expansions.
- Atlantic Innovation Fund (AIF) – Strategic Investments to increase innovation capacity in research and development.