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City of Penticton

Penticton, BC Best Large Communities:
Nominee

At the end of 2017 35 projects qualified for revitalization tax exemptions, as part of the City’s Economic Investment Zone strategy, equating to over $70M in construction activity and over 400 new jobs. Out of the 35 projects, 20% of those were for new investment into our community, whereas 80% of the applications receiving incentives were for reinvestment in existing businesses/industry within our community. In a community Penticton’s size, the result of the implementation of this policy direction has been incredible and set the scene for long term success of our community. This proposal is not your typical red tape reduction story, but one that is about how an innovative policy change has encouraged our business community to grow, reinvest in our community and support the long term sustainability of our City. The end results of this policy have seen the entire community and wider region benefit. We can sit here and wait for change to occur, or we can do something about it.

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