Development Based Incentives

The Business Development, Expansion and Retention Incentive Program is grant-based and was developed with the input of local industry.

The program provides a grant, tied to property taxes, to businesses and other investors that spend $2 million or more in key industries. The grant covers the incremental increase in property taxes due to the new investment—starting at 100 per cent in year one, tapering to 50 per cent in year five.

Local job seekers will benefit from the program too, as the creation of new jobs is part of the eligibility criteria.

Priority Sectors

Sectors were strategically chosen to align with the long-term economic development goals of Lethbridge, offering opportunities for innovation, sustainability and global competitiveness. They also align with the priorities of the provincial and federal governments for the southern Alberta region.

• Agrifood and Agribusiness

• Alternative & Renewable Energy

• Trade & Logistics