Ontario Pilot Program to Cover Industrial Site Approval Costs
Private landowners or municipalities could be reimbursed for 50 percent.
2 min read
The province of Ontario has recently launched a pilot program that will offer private landowners or municipalities up to $25,000 to help cover industrial site approval costs. This pilot program will allow entities to be reimbursed 50 percent for various planning and environmental studies that could require technical expertise.
Below is what land parcels need to qualify for this reimbursement:
must be appropriately zoned
are of at least 5 acres
at least two of the five key services—municipal water, municipal wastewater, electricity, natural gas and telecommunications-- must be available within 500 metres of the site’s lot line
assure that missing services will be in place within two years
Those who meet the criteria must first enroll in a complimentary preliminary consultation. If given the go-ahead, the deadline to submit applications is March 1, 2022.
Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, states, “One of the missing pieces in the province’s land inventory is the diversity of industrial sites to meet the needs of a variety of industries. The launch of the Site Readiness Program will offer municipalities and industrial landowners across the province more flexibility to help bring their sites to market more quickly, compete globally and provide more options for site selectors and investors.”
Learn more about the Ontario pilot program.
Reference
Subsidy to ease industrial site approval costs - remi network. REMINET. (n.d.). Retrieved November 30, 2021, from https://www.reminetwork.com/articles/subsidy-to-ease-industrial-site-approval-costs/.
About Westhaven Group
WHERE INTEGRITY AND RELIABILITY MEET.
Westhaven Group oversees a collection of companies involved in managing and trading over 600,000 square feet of real estate across the City of Toronto and surrounding areas.
With multiple years of experience in the industry, our team works within residential and commercial spaces ensuring every aspect of real estate investment is covered.
Westhaven Group is a go-to source for all of your company needs.