As a part of their economic development plan, the town is implementing a program designed to stimulate property improvements and facilitate the growth of the local economy.
For businesses making changes to a commercial property they can phase in any increases in taxes over 10 years.
“We are hoping that this will provide an incentive to get new businesses of the ground,” said Dylan Heide, chief administrative officer with the town.
The 10 year phasing will allow businesses to get established before the tax increase kicked in.
Not only is the tax phase in applicable for new businesses but existing businesses looking to expand the structure of their building can also benefit.
The program will also include those wanting to convert a residential home to a business.
Heide hopes this will encourage businesses to eye Shelburne.
“If you want to go in to business Shelburne is the ideal place to do it,” he said.
Darren Shupe, economic development director for the town said the new by law is all about creating opportunities to strengthen the local economy.
With events like the Tall Ship Festival, Founder’s Days and the Whirligig Festival, tourism has grown over the past few years while a population growth of young professionals is making the area a prime place to set up business like restaurants, B&B’s and other businesses targeting tourism, he said.
Shupe said the town worked hard to bring tourism in to help boost local businesses.
“It all fits in to the economic development plan,” said Shupe.
“Along with existing businesses looking to expand, there are numerous commercial properties already on the market to which the new program would apply,” said Heide. A quick review of available commercial properties in Shelburne ready for investment finds several, including the 9,500 square foot Loyalist Plaza. “This new program should give developers cause to take a second look at Shelburne.”
For more information on the development support program please visit the Town of Shelburne's website at https://www.town.shelburne.ns.ca/development-support-program.html or contact Town of Shelburne Manager of Community and Economic Development, Darren Shupe, at email@example.com or (902) 875-2991 Extension 6.