Truemors
is reporting from
Member
NP Rank:
NP Rank:
Surrey Mayor embraces 30 year old idea who's time has come
Share:
by eastvanray | March 12, 2009 at 10:27 am
105 views | 5 Recommendations | 1 comment
Tax free economic zones are neither new nor are radical. They were proposed by the Fraser Institute 30 years ago by Dr. Herb Grubel Phd (The theory of free economic activity zones .
Burnaby, B.C. : Dept. of Economics and Commerce, Simon Fraser University, c1979. 29 leaves). They were a good idea then and are a good idea now. Cheers for Mayor Watts. Now let's see if Vancouver's "Vision-ary" Mayor has the leadership and intelligence to follow Surrey's lead.
Surrey mayor unveils radical economic development plan
By Kelly Sinoski, Vancouver SunMarch 12, 2009 10:01 AM
Surrey Mayor Dianne Watts
Photograph by: Stuart Davis, Vancouver Sun file
METRO VANCOUVER -- Surrey Mayor Dianne Watts on Wednesday unveiled a radical new concept to create tax-free economic zones in the city in a bid to attract developers and generate jobs during the recession.
The stimulus plan designates the City Centre and Bridgeview-South Westminster neighbourhoods as areas where major new projects won’t have to pay property taxes for three years.
The city also intends to cut development cost charges by 33 per cent and defer payment until later in the building process, as well as reduce building permit fees by 50 per cent.
These new incentives would apply to projects worth more than $10 million that are under construction before the end of 2010.
A typical $20-million project would save about three to four per cent in costs.
Advertisement
NowPublic on Facebook
What is NowPublic?
NowPublic lets people work together to cover news events around the world.
Most RecentMost Recommended Comments (1)
at 18:31 on March 12th, 2009
I heard her interview on 1130, who knew besides being a Babe, she kicks ass as a Politician too~ she should run for Premier and run Gordo and Wally Stonewall outta town on a BC Rail!