Create tax incentive for digital media businesses
Ontario has created a 40% tax credit program for digital media research and development (http://www.omdc.on.ca/Page3400.aspx). The city of London should create a similar program of tax incentives for digital media companies to set up shop in London to capitalize on this market. Property tax cuts, utility expense credits, transit pass programs, downtown core parking inducements...anything the city has control or influence over that would reduce the cost for digital media companies to start-up in London. We often hear of universities incubating new businesses but with the proper incentive programs there is little reason why the entire city could not be the incubator.
We’ve done what we can to explore reader ideas about downtown and the digital world: free Wi-Fi in the core and tax incentives available provincially to attract digital businesses and the young, energetic minds such businesses typically employ.
It’s up to you now to get these topics on the agenda at city hall and champion the cause.
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j
commented
not just R&D and not just new set ups! there are those of us that have been doing it for a long time, and have brought a LOT of tax dollars in. it would be nice to get some recognition and some tax breaks.
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Steve Groves commented
@JoeR The web site seems to have automatically included the closing parentheses in the link. I can't see any way to fix it.
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Joe Ruscitti
commented
Precisely the kind of concrete, can-do (or at least I think the city can, unless there's legislation preventing such a move by a municipality) idea we need more of. Steve, one thing: Your link is bad, doesn't take user where you mean them to go