2016 Approved Budget Impact – Economic Development in South Winnipeg-St. Norbert
In the City of Winnipeg’s 2016 approved budget, small business tax is reduced from 5.6% to 5.3% for businesses that have an annual rental value (ARV) of $32,220 or less in 2016. This positively impacts many small businesses along Pembina Highway, enabling an average savings of approx. $1,700.
A significant number of businesses along Pembina are currently looking at establishing a South Winnipeg Business Improvement Zone (SEE City of Winnipeg BIZ). City staff and I are supporting them on this initiative.
Approximately $2.9 million from the Destination Marketing Reserve (DMR) and Special Events Marketing Fund to Economic Development Winnipeg – Yes Winnipeg. This is more of a City-wide initiative with an overall impact.
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