Today, Brampton Council approved the 2019 Development Charges (DCs) By-laws, providing incentives for major office corporations and small businesses to locate in Brampton.
The new Major Office Development Charge Exemption will waive Brampton’s portion of DCs for “Major Office Development”, which is defined as a free-standing building of at least 50,000 square feet and at least two storeys tall. This change will incentivize major corporations to locate their head offices in Brampton.
Another change to the DC by-law, the Change of Use Exemption, will exempt some change-of-use conversions (industrial to commercial) from DCs, encouraging small businesses to locate in spaces previously used for industrial purposes.
The DC changes are the result of a Development Charges Background Study, where many stakeholders were consulted, including Brampton’s business community who expressed support for these changes.
Brampton is committed to working with the business and development community to ensure the city puts the optimal conditions in place for businesses to locate and thrive. Along with these DC by-law changes, Brampton is implementing a robust Community Improvement Plan (CIP). The CIP will establish programs that link land use planning with financial and other tools as incentives for businesses and developers, making Brampton a desirable location. Together, these initiatives will promote economic development opportunities across the City and solidify Brampton as a place of business and investment.
Quotes
“These changes to DCs align with our Community Improvement Plan and our Foreign Direct Investment Strategy, which are designed to drive jobs and investment in Brampton and build a City of Opportunities. We are committed to making efforts on many fronts to ensure we are a prime location for businesses of all sizes to consider.”
– Mayor Patrick Brown
“Business investment in our city is an important priority for this term of Council and a critical piece of our future success. Changes like these demonstrate our commitment to making Brampton an attractive location for local and foreign businesses to invest.”
– Regional Councillor Paul Vicente, Vice-Chair, Economic Development and Culture
“The amendment to the DC by-law will incentivize development, attract multinational companies and create more jobs in our City. We believe that this type of support from municipal government will give the City of Brampton a competitive advantage over other municipalities in attracting first rate corporate residents and will signal that the City is indeed “open for business”.
– Ignat Kaneff, Chairman and CEO, Kaneff Group of Companies
“Brampton competes to win. Together with a progressive Community Improvement Plan, these by-law changes are another positive step that distinguishes Brampton as an even more attractive location for large office investments.”
– Todd Letts, CEO, Brampton Board of Trade