West Prince Business Park
The West Prince Business Park is a 40-acre site that focuses on new development in commercial, light manufacturing and agri-food service business. The park is home to support services in the agricultural and fishing industries.
Where is the West Prince Business Park located?
The West Prince Business Park is ideally located in Bloomfield on the Trans Canada Highway within close proximity to O’Leary, Alberton and Tignish. The park entrance is available via an access road off of the highway.
Is this a tax-free park?
Yes, West Prince Business Park is tax-free for the companies located there.
What other tax incentives does the park offer?
Companies located in the business park receive tax incentives such as:
- Corporate Income Tax – An amount equal to 30 per cent of the company’s capital investment in the park will be set aside to offset future corporate income tax paid to the government of Prince Edward Island.
- Real Property Tax – A full rebate annually of all real property tax attributable to ownership of facilities within the park.
To receive these tax incentives, companies must meet the following criteria:
- Be a newly incorporated entity,
- Have potential for a minimum capital investment of $300,000 or incremental sales of $500,000 annually,
- Have potential to create a minimum of 10 jobs, and
- Be consistent with the principle of sustainable economic development.
NOTE: No company will receive these tax incentives is their move to the park will displace jobs currently located in another part of PEI or will give the company an unfair competitive advantage over existing businesses in the province.
How much space is available at the park?
- 15 lots in total (10 are currently occupied and 5 are vacant)
- Total acreage is 50
- 5-6 lots are being considered for future development
Who can I contact for more information?
Norma Kennific-Bernard, BBA, DPA (Client Services and Procurement Officer)
94 Euston Street
Phone: (902) 569-7605
Fax: (902) 569-7601