grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|minCount
grant_single|deadlines
  • grant_single|timelineUnspecified
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
  • Mining, quarrying, and oil and gas extraction
  • Manufacturing
  • Transportation and warehousing
  • Information and cultural industries
grant_single|grantors
  • Saskatoon Regional Economic Development Authority (SREDA)
grant_single|status
grant_card_status|open

grant_single_labels|preview

Exemptions and reductions of any city tax or fee, waiving of utility deposits and down payments on land, and exemptions or reductions of prepaid servicing levies.

grant_single_labels|projects

This grant incentive is specific to businesses located in Saskatoon, as the program is administered by the Saskatoon Regional Economic Development Authority (SREDA) and the City of Saskatoon. Eligible companies must therefore be situated within the city's geographical boundaries to benefit from the program.
  • Companies located within the city limits of Saskatoon, Saskatchewan, Canada.
grant_single|admissibleProjectsExample

$1,500,000

Construction of a sustainable transportation hub to enhance urban mobility and reduce carbon emissions

$1,200,000

Renovation of an old factory into a tech startup incubator to foster innovation and job creation in the tech sector

$1,250,000

Expansion of renewable energy manufacturing plant with state-of-the-art solar panel production line

$1,200,000

Development of a telecommunications center to enhance connectivity for remote communities

$1,200,000

Expansion of a food processing plant to increase production capacity and create new jobs

$1,000,000

Establishment of a data processing center to support local businesses with cloud storage solutions

grant_single_labels|admissibility

Eligibility for this grant is determined by several specific criteria related to business characteristics and project specifications.
  • The business must be a legally incorporated entity.
  • The business must be involved in one of the following industries: energy, oil and gas, mining, manufacturing, processing, technology, transportation and logistics, telecommunications, or data processing.
  • For existing businesses, a minimum of five new full-time positions must be created within one year. For new businesses, a minimum of 15 new full-time positions must be created within three years.
  • The business must invest a minimum of $500,000 in plant, land, and/or leasehold improvements.
  • The business must possess the required financial resources to complete the project.
  • The applicant must be the legal owner of the property or provide a copy of the lease agreement upon application.

grant_eligibility_criteria|who_can_apply

Eligible applicants for the BUSINESS DEVELOPMENT INCENTIVE must be legally incorporated entities operating in specific industries, including energy, oil and gas, mining, manufacturing, processing, technology, transportation and logistics, telecommunications, or data processing. Applicants must demonstrate the creation of new full-time jobs and a significant investment in plant, land, or leasehold improvements. The applicant must also be the legal owner of the property or have a lease agreement and possess the necessary financial resources to complete the project.

grant_eligibility_criteria|who_cannot_apply

The grant application guidelines provided do not specify particular exclusions based on industry or company status. The focus remains on eligibility criteria without detailing explicit ineligibility conditions.

grant_eligibility_criteria|eligible_expenses

The grant is designed to facilitate the attraction and expansion of businesses in key sectors in Saskatoon through various development projects. Eligible activities revolve around infrastructure investment and significant business growth in alignment with the area's economic priorities.
  • Expansion or establishment of new businesses in Saskatoon.
  • Creation of a minimum of five new full-time positions for existing businesses and 15 for new businesses.
  • Investment in plant, land, and/or leasehold improvements totaling at least $500,000.

grant_eligibility_criteria|zone

The grant covers expenses related to new building projects, expansions, or leasehold improvements that facilitate business development in Saskatoon.
  • Investment in land for new or expanded business operations.
  • Investment in buildings associated with business expansion or establishment.
  • Costs associated with leasehold improvements for expanding or establishing business operations.

grant_single_labels|criteria

The evaluation and selection of projects for the Business Development Incentive are based on specific criteria to ensure the facilitation of investment and long-term job creation in Saskatoon.
  • Clear and concise description of the expansion project in the business plan.
  • The number of full-time positions to be created as a result of the project.
  • The size of the investment made in land, buildings, and leasehold improvements.
  • Financial viability and stability demonstrated through recent financial statements or a bank letter.
  • Completeness of submitted required documents, including blueprints and lease agreement (if applicable).

grant_single_labels|register

Here are the steps to submit an application for this grant:
  • Step 1: Preliminary Documentation Gathering
    • Prepare a business plan or executive summary detailing the new expansion project.
    • Ensure the business plan includes the number of full-time jobs to be created and the investment details.
    • Obtain blueprints for the new construction, expansion, or renovations.
    • Gather recent financial statements or a bank letter verifying financial capability to complete the project.
    • Compile a current payroll list including names, positions, and full-time equivalents.
    • If applicable, obtain a copy of the lease agreement if not owning the property.
  • Step 2: Complete Application Form
    • Fill out the Business Development Incentives application form.
  • Step 3: Submission
    • Submit the completed application form and all supporting documents to SREDA before starting any project activities.
    • Ensure submission is made prior to applying for a building permit through the City of Saskatoon.

grant_single_labels|otherInfo

The following points provide additional relevant information for the Business Development Incentive grant:
  • The application for the incentive must be submitted and approved before any expansion or new building project commences.
  • Approval is also required before applying for a building permit through the City of Saskatoon.
  • The incentive may include abatements such as exemptions or reductions of city taxes, waiving of utility deposits, and reductions of prepaid servicing levies.

Apply to this program

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