Innisfil's Community Improvement Plan (CIP)
All applicants were required to match funds dollar for dollar at a minimum - the vast majority spent much, much more.
Most of the funds were used for development charge abatement. For example, the largest recipient was a manufacturer that built a 50,000 square foot manufacturing facility in Innisfil Heights. They have hired 45 people. They received a $100,000 development charge abatement (discount) from the Town and $62,000 from Simcoe County. Their total development charges totalled over $600,000 .
When asked why they chose Innisfil over the 6 other sites that they were considering they cited the co-operation of the economic development staff, the location near the 400, and the CIP. Before we had a CIP, we lost two similar opportunities to Bradford, who offered a program before us.
The half million in development charges from this one new business, plus the taxation revenue from the increased assesment will benefit Innisfil residents for years to come.
- Council approved a town wide CIP allocating one million in revenues from OLG funding over three years. ($200k in 2016, $400K in 2017 and $400k in 2018). The program allowed all businesses in commercial, industrial or agricultural areas to apply. The goals for the program included
- Increase employment opportunities
- Expand the non residential tax base
- Increase assessment base of existing properties
- Attract new investment
- Reduce vacant commercial and industrial buildings and properties
- Increase local business start ups
- Renew and revitalize our downtowns
All applicants were required to match funds dollar for dollar at a minimum - the vast majority spent much, much more.
Most of the funds were used for development charge abatement. For example, the largest recipient was a manufacturer that built a 50,000 square foot manufacturing facility in Innisfil Heights. They have hired 45 people. They received a $100,000 development charge abatement (discount) from the Town and $62,000 from Simcoe County. Their total development charges totalled over $600,000 .
When asked why they chose Innisfil over the 6 other sites that they were considering they cited the co-operation of the economic development staff, the location near the 400, and the CIP. Before we had a CIP, we lost two similar opportunities to Bradford, who offered a program before us.
The half million in development charges from this one new business, plus the taxation revenue from the increased assesment will benefit Innisfil residents for years to come.