Town of Ponoka New Business Grant and Commercial New Build Incentive
The Town of Ponoka has announced two new initiatives under its Business Retention and Attraction Program to help retain, support, and attract new businesses to the community.
New Business Grant
The New Business Grant offers a one-time-per-business grant payment of up $1000 for businesses that are new to Ponoka, reside and operate in the Town, and have not previously operated in the community.
To be eligible, the business must hold a valid 2021 Town of Ponoka business licence or be exempt from requiring a business licence. The application period for the New Business Grant begins January 1, 2021, and will continue until December 31, 2021.
The grants will be awarded on a first-come, first-serve basis with grant amounts varying according to the business licence type as follows:
• In-Town Commercial and Automotive business licence holders who lease a commercial property may be eligible for a $750 grant; or $1000 if they purchase the commercial property;
• In-Town Trades business licence holders may be eligible for $750;
• Home Business licence holders - $250;
• Home Office business licence holders - $100; and
• Home Catalogue Sales business licence holders - $50.
Commercial New Build Incentive
The Commercial New Build Incentive will offer property tax breaks to new or existing commercial businesses in the Town of Ponoka that build a new property (or demolish and build a new property) on commercially-zoned land in the Town.
Eligible businesses will receive the following reductions in their municipal property taxes over a three-year period, beginning the first year after the occupancy permit is issued:
• A 75% reduction in the municipal portion of their property taxes the first year;
• A 50% reduction the second year; and
• A 25% reduction in the third year.
The application period for the one-time-per-business Commercial New Build Incentive begins January 1, 2021, and will continue until December 31, 2022. If the owner sells the property during the three-year incentive program, the property tax credits will stay with the property and transfer to the new owner.
To apply for the New Business Grant, CLICK HERE.
To apply for the Commercial New Build Incentive, CLICK HERE.
Please email a copy of the completed application form to email@example.com or print a copy of the completed form and mail to:
Town of Ponoka
200, 5604-50 Ave.
Ponoka, AB, T4J 1G5