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Industrial Revitalization Tax Exemption

The Industrial Revitalization Tax Exemption Bylaw (link to bylaw page) was adopted in 2011 to allow new industrial buildings to qualify for savings on industrial property taxes for 5 years.

To qualify, the value of construction must be in excess of $1 million, and can either be a new building or an alteration/addition of an existing industrial building.

The program is intended to stimulate the local economy by encouraging industrial capital investment, expanding industrial tax base, creating new permanent employment opportunities and reducing the need for residents to work outside Chilliwack.