Investing Incentives

Investing Incentives

Business Improvement Program (BIP)
The Business Improvement Program (BIP) encourages commercial building owners to invest in storefront improvements. The program provides tax credit to cover a portion of renovation costs.

The tax credit will be limited to the lowest of:

a) 50% of actual expenses on façade improvement (net of HST)

b) Annual property tax for 2019

c) $10,000

Program Goals

This program is intended to:

• Make city streets more inviting and create more interesting places to walk and shop
• Help building owners attract and retain tenants
• Build civic pride among the local business community
• Contribute to the quality of life of residents, workers and visitors
• Improve the marketability of the local business area
• Help businesses make a better first impression, and attract new customers

General Guidelines

For the Program Details and the Application Form please click here

Deadlines

Application will be considered and approved on a first qualifying basis, until the entire $50,000 tax credit has been committed.

Approved projects must be completed and all required information submitted by December 15.

Please submit application to:
Business Division, City of Corner Brook

5 Park Street, P.O. Box 1080
Corner Brook, NL, Canada
A2H 6E1
Tel: 709-637-1551
Email: bip@cornerbrook.com