Mayor Jeff Genung says giving municipalities the ability to offer property tax incentives could help build Cochrane's tech sector, but should be used cautiously.

Yesterday, Municipal Affairs minister Kaycee Madu tabled legislation to empower municipalities to provide further incentives to business owners for machinery and equipment. It follows on the steps of Bill 7 that enables municipalities to offer property tax incentives to non-residential properties for up to 15 years.

Madu says the bill will ensure flexibility is in place as soon as possible to enable municipalities to implement programs that will encourage investment by business and industry.

“Flexibility to offer machinery and equipment tax incentives will help communities attract investment and support local job creation," says Madu.  "Municipalities are key provincial partners in fostering a competitive business environment. This amendment to the Municipal Government Act combined with Bill 7 sends a strong signal Alberta is open for business.”

Genung says the possibility of utilizing the incentive has been discussed here and within the mid-sized cities caucus.

Should the town utilize the incentive they would so selectively, he says. 

"It certainly is something I've put into my back pocket, specifically in the innovation and tech district, as we build our innovation centre and move forward with plans to be more of a tech hub."

The mid-sized cities caucus has been cautious in its approach to the new powers, he says.

"The fear is we all use this tax incentive to race to the bottom, where we all cut taxes. How is that sustainable long-term?"

"You have to be careful about where and when to use it, but it is of interest to me."