Incentives

If it sounds too good to be true, chances are good, it is. This is especially true when the topic at hand is tax abatements. A popular incentive in the competitive real estate market, tax abatements eliminate or greatly reduce the amount of property taxes businesses pay on new construction, rehabilitation and/or other commercial improvement projects. Which sounds great, until you realize there are almost always strings attached. For example, many cities only offer tax abatements in designated low-to-middle income neighbourhoods.

In Chatham-Kent we’ll never tempt you with a false promise of “free money.” Instead, we’ll provide you with something even better: prolonged, sustained savings in a low-cost business operating environment. Simply put, that means:

  • Lower land costs
  • Lower vacant building costs
  • Lower new construction costs
  • Lower labour costs
  • Lower overhead costs
Thrive Locally Compete Globally

Now, that’s not to say we don’t offer any special incentives. The Chatham-Kent Economic Development team works directly with investors to leverage a wide range of local, provincial, and federal programs.

Agriculture / Processing Grant Programs include:

Provincial grant programs help subsidize:

  • Capital equipment purchases
  • Leasehold improvements
  • Training costs and job creation

The Federal 0% Loan Program supports new investment and job creation, along with ongoing research and development projects.

It’s Better North of the Border

Did you know? Ontario’s combined Federal/Provincial corporate tax rate is lower than the U.S. Federal/State average. Since 2010, the general corporate tax rate has dropped 5.5 points to 26.5%.

Corporate Income tax rate Chatham-Kent

Planning to invest in manufacturing? Then you’ll save even more! The corporate tax rate for manufacturers is 25%.

 
25% Corporate tax rate for manufacturers
 

InvestCanada and InvestOntario provide significant incentives to manufacturers in support of large scale investments. This includes:

At the Chatham-Kent Economic Development offices, we believe the best incentive is a successful business operation. Contact us today to learn more about our investment opportunities.