Wednesday January 29, 2014 www.saobserver.net $1.25 GST Included
City explores tax incentives Economy: Report to consider ways to attract new industrial operations.
By Lachlan Labere
Arm a competitive edge for attracting new industrial development, and send city council has agreed to take the a clear message to investors “that we first step towards establishing a taxa- want their business in our town, and tion incentive for the development of we have a forward-thinking council Salmon Arm’s industrial properties. prepared to support them along the Municipal staff will be working way.” with the Salmon Arm economic deFitt said the timing is right for the velopment Society (SAedS) to de- program. She explained the city has velop an industrial taxation incentive sufficient developable industrial program. land, and a survey of half-a-dozen In a presentation to council, eco- large employers in the industrial park nomic development manager lana shows each company experienced job Fitt likened such a program to the gains in 2013 as high as 37 per cent. city’s Revitalization Tax exemption “What we’re hearing from our program, which offers a manufacturing firms is five-year, 100 per cent that they’ve returned to tax break for revitalizapre-recession employtion projects of $75,000 ment levels, and many or more. She proposed are now exceeding those an industrial taxation prolevels, which we have not gram that would apply to seen in our community undeveloped industrial since 2006,” said Fitt. properties in Salmon Arm Asked if she knows of and at the airport. any other communities Lana Fitt “We would like to see with a similar program, Economic a 100-per-cent exemption Fitt said she looked at 19 dEvElopmEnt to the municipal portion with some sort of incenof property taxation on tive program, but only the assessed value of any new con- three with a focus on industry. She struction project for a period of five recommended the city not necessarily years,” said Fitt. “We would like to match what other communities have, see a defined program end date, so but set the bar higher. this would look out to three to five city administrator carl Bannister years after the program was estab- said the cost to the city to get involved lished. would come in staff time, implemen“We feel it’s important to have a tation and administration, depending firm end date to the program in or- on the uptake of the program. He sugder to encourage development in the gested it could be about six months near-term. At the end of the program, before a report is completed. council could then evaluate and detercoun. Alan Harrison said he liked mine if they wish to continue or not.” the philosophy of the proposed proOther proposed stipulations include gram, and agreed the timing is right a $300,000 minimum investment for its introduction. threshold, and the creation of a mar“If you don’t offer the incentive, keting plan that would be initiated by you don’t ever know what taxation the economic development society. you might have lost because you Fitt said the primary reasons to con- might not attract industry at all,” said sider the program are to give Salmon Harrison.
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Shiver me timbers
With sword in hand, Bastion Elementary School student Eric Moore makes his way along the course at the annual Larch Hills School Pirate Loppet held Friday morning at Larch Hills. Check out more coverage of the event on page A17.
This week Momentum is building for Salmon Arm’s entry into the Hockeyville contest. See A4. Students hear from Bruce Aikenhead, Salmon Arm’s own space pioneer. See A8 for more.
Index Opinion ....................... A6 View Point .................. A7 Life & Times ............... A8 Sports................A17-A21 Arts & Events ... A22-A24 Time Out................... A25 Vol. 107, No. 5, 44 pages