Incentive Zones

 

Local Government Incentives

Local governments in the Comox Valley including the City of Courtenay and Town of Comox have prioritized downtown development as part of their annual strategic plans which have resulted in the development of specific tools, action plans, and programs. Please click on the following links to learn more.

 

City of Courtenay Downtown Revitalization

The City of Courtenay has approved a plan to re-develop its downtown. The City’s council adopted the Downtown Courtenay playbook: A Partnership Action Plan on September 6, 2016. The plan consists of the long term vision and goals of the program accompanied by a list of actions and broad timelines.

Ongoing Project: Sidewalk Cafes – Pilot Project for businesses wishing to install a sidewalk cafe in the downtown core.

Completed Project: Complete Streets Pilot Project – 5th Street between Fitzgerald and Menzies Avenues got a major transformation.

Visit the City of Courtenay Downtown Revitalization webpage to learn more.

 

Town of Comox Downtown Vitalization

The Downtown Vitalization Area is shown shaded on the map above.

In June 2014, the Town of Comox Council adopted several bylaws, including Downtown Revitalization Tax Exemption Bylaw No. 1784, to encourage Downtown Vitalization. The incentives encourage mixed-use commercial and residential development, to support and increase not only Downtown businesses, but also the area’s social and environmental vitality.

With a new Downtown Vitalization Tax Exemption Program, the Town has put the tools in place to encourage viable new residential development to drive increased investment and population within the oceanside downtown core.

Program Highlights include:

  • Priority processing
  • Revitalization Tax Exemption for residential component of the development
  • Building Permit fee reduction
  • Planning Applications fees rebate
  • Optimized parking requirements and design standards
  • No affordable housing contribution for residential projects featuring at least 50% of adaptable units
  • Sound attenuation guidelines provided by the Town

Visit the Town of Comox Downtown Revitalization Program webpage to learn more.

 

Additional Incentives

There are strong business advantages to establishing and operating a business within the Comox Valley on Vancouver Island in British Columbia. Local and provincial government incentives help to ensure the region is competitive nationally and globally and feature the following:

 

Taxes

Low Taxes

Bring your business to British Columbia. You and your employees will benefit from one of the lowest corporate income tax rates among G7 nations and the lowest provincial personal income taxes in Canada for individuals earning up to $125,000.

Tax Incentives

Tax credits, exemptions, and deductions reduce the amount of tax your business pays. These savings will let you re-invest in your company and continue to grow.

Streamlined Regulations

British Columbia has streamlined its regulations and reduced paperwork, giving you more time to focus on running your business.

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