In an effort to reduce costs for businesses and to make Centre Wellington more competitive, council approved the implementation of a Jobs and Investment Incentive Program.
A press release issued by the township states the new program provides an incentive encouraging developers and business owners to create more jobs and investment in Centre Wellington.
“Our 2015-2018 Strategic Plan directed us to take real action on encouraging employment and investment in Centre Wellington,” said Mayor Kelly Linton.
“Our new Jobs and Investment Incentive Program significantly reduces our development charges for industrial development/expansion.
“We know this is an exceptional place to live, but we also want to be an awesome place to work.”
The program is designed to:
– reduce development charges for industrial uses and create a grant program to increase industrial development;
– increase the amount of industrial development in Centre Wellington to achieve job growth and assess growth related to non-residential sources;
– reduce “up-front” development costs and encourage investment by the private sector;
– promote intensification of industrial areas, and redevelopment in areas with infrastructure currently;
– improve the competitiveness of Centre Wellington relative to its comparator and neighbouring municipalities; and
– encourage intensification of underutilized properties, decreasing the demand of greenfield properties.
Currently the township relies heavily on a residential assessment base.
By encouraging more industrial expansion, a more evenly balanced assessment base will be created.
To achieve a balanced community providing both residential and employment opportunities, Centre Wellington has a forecasted target of 10,000 new jobs by 2041.
Redevelopment of existing areas provides a public benefit by reducing the need for greenfield property and will take advantage of the township’s existing infrastructure.
Reducing development charges will provide an incentive to local companies to expand and grow within the township.
“This program is a reality due to the hard work and dedication of our Economic Development Task Force” said Brett Salmon, managing director of planning and development.
“This report is a significant step toward reducing costs for non-residential development making us more competitive.”
