Council harmonizes industrial tax rates to attract and retain investment

The Municipality of Chatham-Kent has harmonized industrial tax rates to be more competitive in the bid to attract new investment to the region and support the existing manufacturing base.

Effective January 2009, the large industrial tax rate will be the same as the standard industrial tax rate.  Chatham-Kent Council has approved the change in response to feedback from potential clients that a higher large industrial tax rate could pose a barrier to invest.

“It doesn’t have a major impact on municipal revenue and yet it makes a significant statement about our interest in attracting new investment,” says Aileen Murray, Acting Director Chatham-Kent Economic Development Services. Council is supportive of change that will lead to new investment and aid businesses that already contribute to the municipal tax base, she adds. This change will lower the tax rate for 24 large industrial companies operating in Chatham-Kent.

“Harmonizing the tax rate is just one more benefit to any business that wants to locate here,” adds Murray.

Year over year, Chatham-Kent is identified in KPMG’s Competitive Alternative Study as a community that is very cost competitive for business. Low business costs, good availability of land and a skilled workforce make it very attractive to investors.

For more information, please contact Chatham-Kent Economic Development Services at 1.866.542.5994/519.351.7700 or at ckeds@chatham-kent.ca