Vegreville, AB (May 10, 2023) – In what was another strong demonstration of the fact that the Town of Vegreville is indeed ‘Open for Business’, Vegreville Town Council unanimously passed the Machinery & Equipment Incentive Tax Exemption Bylaw at their last Regular Meeting held on Monday, May 8, 2023.
This bylaw, in accordance with section 364.2 of the Municipal Government Act, allows Vegreville businesses, both present and future, that are, or would be, taxed on machinery and equipment by the municipality to apply for an automatic exemption of that tax, guaranteed for the next fifteen years.
“The passing of this bylaw is a major milestone in Council’s mission to make Vegreville one of the most competitive communities to conduct business in the province. We’ve set the price of our town-owned, serviced lots – be it Prosperity Industrial Park or 75th Street Business Park – at some of the most affordable rates in Alberta. We demonstrated a willingness to engage and dialogue with businesses in the hopes of meeting their needs. Now, we’ve – at least for the next fifteen years – eliminated a tax that acted as barrier when it came to attracting new business to our community.”
Tim MacPhee, Mayor, Town of Vegreville
“The good news is this exemption won’t have major budget implications because there is presently only a handful of businesses in Vegreville that are assessed to pay the Machinery & Equipment Tax and, while I’m sure those businesses will be happy to hear of the exemption, where this bylaw will a major impact will be in the ongoing recruitment a large industrial-types businesses that will one day occupy the lots at Prosperity Industrial Park.”
Meghan Saskiw, Corporate Services Director, Town of Vegreville
“It’s fitting that this announcement comes during Economic Development Week given the potential impacts it could have in growing our community. The Machinery & Equipment Incentive Tax Exemption Bylaw is another major tool in our belts when it comes to attracting new business and industry to Vegreville.”
Jamieson Brown, Community Engagement & Economic Development Manager, Town of Vegreville
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About Vegreville: Home to the World’s Largest Freestanding Pysanka (Ukrainian Easter Egg), the Town of Vegreville is located about 100 kilometers east of Edmonton and conveniently adjacent to Highways 16 and 36, two of Western Canada’s major transportation corridors. A friendly and thriving community, Vegreville has positioned itself to become a future hub of Agriculture and Industrial Business thanks to its proximity to major cross-continental highways, access to TELUS PureFibre internet and the now under construction Prosperity Industrial Park.
Community Engagement & Economic Development Manager, Town of Vegreville