City accepting applications for development incentives and grants
The City of Grande Prairie is now accepting applications for the Development Incentives and Grants (DIG) program in an effort to boost the economy by supporting investments that will have long-term benefits to the community.
The DIG program consists of five grants, three meant for industrial and commercial projects, and the other two geared towards residential construction.
The Industrial and Commercial Incentives consist of:
- The New Business Development Grant: A 10-year Tax-Increment Rebate for new industrial or commercial business development. The construction value of the project must be over $25,000,000 in order to qualify.
- The Business Retention and Expansion Grant: A four-year Tax-Increment Rebate for improvements to existing building or property to increase the assessed value by a minimum of 25 per cent, with a minium of $1,000,000 construction value.
- The Business Revitalization Grant: A grant matching 50 per cent, or up to a maximum of $25,000, for demolition or property and/or building improvements. Those improvements can include painting; siding; large-scale landscaping; installing/repairing access ramps; and installing lighting that improves aesthetics, access and/or safety.