Have your say on revised Business Investment Policy
18 July 2016
Range of incentives to encourage new and expanding businesses in the Tweed
Tweed Shire Council’s Business Investment Policy has been comprehensively revised and Council and is seeking input from the community during the exhibition period.
The revised policy has been developed to support all levels of business investment and reinvestment in the Tweed. The policy encourages diversification and investment in the economy that would not occur otherwise.
The redrafting of the existing Business Incentive Policy incorporates a range of solutions to deal with developer charges and contributions arising from the development process. This range of incentives allows for all size of businesses to take advantage of the policy.
“Council supports business and has refined this policy to offer a range of incentives to encourage new businesses at all levels, whether they are new businesses or an expansion of existing businesses,” Mayor of Tweed, Councillor Katie Milne, said.
“This policy is aimed at facilitating the development of businesses as they go through the difficult development phase.”
Council adopted the original Business Investment Policy (Version 1) on 16 May 2013. This policy has proven successful since its adoption, assisting in attracting businesses such as Stone & Wood Brewery to the Tweed.
“There is an opportunity to review the policy to bring all of Council's business incentives and discounts into a central document, to simplify and streamline the application process for business. The review has also clearly estimated those discounts applicable to different business tiers, with the greatest incentives for small business,” she said.
The revised policy has been broken into four major areas, each tailored towards a specific size and capacity of business:
- Employment Generating Incentive (offering discount on road contributions)
- Eligible Business Enterprise - Small Business Incentive (offering exemption for small business renting their premises)
- High Consumption Charge Incentive (offering ongoing payments rather than upfront for water and sewer)
- Deferred Payments Incentives (offering deferred payments for all contributions)
The policy provides the strategic context and governance platform to support Council’s economic development strategies as outlined in the Tweed Economic Development Strategy and the Tweed Community Strategic Plan 2013/2023.
The Draft Business Investment Policy is on exhibition until 25 July 2016, with submissions received until 9 August 2016. To view the document, visit www.tweed.nsw.gov.au/onexhibition
Submissions can be made in writing to: The General Manager, Tweed Shire Council, PO Box 816, Murwillumbah NSW 2484 or by email to tsc@tweed.nsw.gov.au by the above date.