The Business Retention & Expansion Grant is aimed to help industrial and commercial businesses grow and thrive by enhancing their property through addition or significant renovation while stimulating the local economy.
Program Funding
A four-year annual rebate equal to 100% of the general municipal tax portion of the Incremental Assessed Value of the property in the first year, decreasing by 25% annually for three additional years.
| Year | Tax Rebate % |
|---|---|
1 | 100 |
| 2 | 75 |
| 3 | 50 |
| 4 | 25 |
To be eligible for reimbursement, no work is to be performed until a Reimbursement Agreement is entered into with the City. Work that has commenced prior to City approval is not eligible for reimbursement. Applicants are responsible for reviewing the Eligibility Criteria below prior to submitting an application.
Questions
Any questions or inquiries can be made to the Program Coordinator at businessincentives@cityofgp.com or 780-513-5240.