Edmonton city council is working to grow the industrial business sector, but with rising property taxes, retention and attraction are becoming more difficult.
In the last 15 years, Edmonton’s regional industrial tax base has dropped from 72 per cent to 60 per cent.
Complicated processes for businesses to start, and a lack of ready-to-develop land are some of the ongoing issues, according to prospective industrial developers.
Mayor Amarjeet Sohi said that is why during the latest budget deliberations, city council voted in favour of investing to streamline the approval process.
“Having more industrial growth within city boundaries is essential for job creation (and) economic growth,” he said. “And at the same time, reducing our dependency on residential property taxes.”
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