Windsor Business Development Grant (Economic Revitalization CIP)

Program Description

A tax-increment-equivalent grant that returns up to 100% of the increase in municipal property taxes resulting from new business investment in Windsor's targeted economic sectors, for up to 10 years. New businesses making building or property investments under the Economic Revitalization Community Improvement Plan receive an annual grant equal to the municipal tax increment created by their project, reducing the net tax cost of growth investments.

Eligibility Requirements

• New business (not existing) making a building or property investment in Windsor
• Investment must fall within a targeted economic sector under the Economic Revitalization CIP
• Manufacturing sector: the project must create a minimum of 50 new jobs
• Other targeted sectors: the project must create more than 20 new jobs
• Investment must result in a demonstrable increase in assessed property value (and thus municipal tax)
• Pre-consultation with City staff is required before applying, and City Council must approve the application before any eligible work begins — costs incurred before Council's approval may not be eligible.
• Retail uses are not eligible unless clearly accessory to the primary eligible use and carried on with it on the same property.
• Projects outside the targeted sectors may still qualify as a 'Catalyst Project' with at least $250,000 in eligible costs, 15 new permanent jobs (excluding construction jobs), and 50 indirect jobs created or retained in the targeted sectors.
• Grant payments cease at 10 years or when cumulative grant payments equal total eligible project costs, whichever comes first.
• Registered owners, assessed owners, tenants, and anyone assigned the right to receive the grant may apply; a non-owner applicant must provide the property owner's written consent on the application.