Consultants believe a couple funding incentives could show industrial companies Chatham-Kent is ready for investment.
In its draft Industrial Community Improvement Plan for CK, Sierra Plannings and Management says tax increment grants or development charge grants are a couple options to help CK fill its many unoccupied brownfields. A tax increment grant would see company's reimbursed if they improve the land value of an industrial site, while the latter would see the municipality help out with development charges if businesses move or expand in CK.
But Sierra Plannings Director Jonathan Hack says incentive programs only scratch the surface of what Chatham-Kent needs to have, to grow industry.
"Taxation, good locational dynamics, all the utilities and advantages this part of Southwestern Ontario has. But what the tax increment grant would do is signal they're open for business," says Hack.
Chatham-Kent is spending up to $52,000 in strategic reserves (which will be matched by the province) on the study. CAO Don Shropshire says the benefit of bringing in Sierra is getting a perspective on other municipal strategies.
"They're looking at best practices across the country and North America and say 'here's what some other folks have done, and here's where it's been successful,'" says Shropshire. "So if we can adapt some of those opportunities for Chatham-Kent, we're going to be as successful as anyone else."
The municipality will hold a public meeting with stakeholders to get feedback before updating the plan. A time and location has yet to be set fort he May 18 meeting.
