News & Updates
- Update Re: ecoENERGY Registration Closure and Post-Retrofit Evaluation Extension
- Penticton Named a Top 10 International Travel Destination For 2012
- Economic Development News
Contact Us Today!
553 Railway Street
Penticton, BC V2A 8S3
Local: 250.493.3323
Fax: 250.492.6119
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Quick Links
- The City of Penticton
- Penticton Wine and Country Chamber
- Tourism Penticton
- South Okanagan Events Centre
- OurOkanagan
- Regional District Okanagan-Similkameen
- Penticton Indian Band
- Penticton Regional Airport
Economic Incentives
Penticton Economic Investment Zones
ECONOMIC INVESTMENT ZONES
- Downtown Economic Incentive
- Industrial Economic Incentive
- Waterfront Economic Incentive
- Tourism, Sport and Culture Economic Incentive
- Commercial/Industrial Economic Incentive
Note: Tier 1 developments that have a construction value of $100,000 minimum or Tier 2 developments for Key Land Uses that have a construction value of $1,500,000 minimum.
Established to encourage the improvement of an existing building or construct a new building on a site within the designated area that has a construction value of $100,000 or greater. Conditional on that a Building Permit has been issued for the project between November 1, 2011 and December 31, 2013 and have final received an Occupancy Permit on or before December 31, 2016. Eligible projects will be provided:
- 50% reduction in building and plumbing permit fees
- A property tax exemption on the value of eligible improvements for a maximum term of 5 years.
Note: Ineligible projects are – Gas stations, drive through restaurants, parking lots (when not constructed in conjunction with a development eligible for incentives under this bylaw), automobile sales and single-family dwellings or duplexes.
Industrial Economic Investment Zone
Established to encourage the improvement of an existing building or construct a new building on a site within the designated area that has a construction value of $100,000 or greater. Conditional on that a Building Permit has been issued for the project between November 1, 2011 and December 31, 2013 and have final received an Occupancy Permit on or before December 31, 2016. Eligible projects will be provided:
- 50% reduction in building and plumbing permit fees
- A property tax exemption on the value of eligible improvements for a maximum term of 5 years.
The Waterfront Economic Investment Zone
Established to encourage the improvement of an existing building or construct a new building on a site within the designated area that has a construction value of $100,000 or greater. Conditional on that a Building Permit has been issued for the project between November 1, 2011 and December 31, 2013 and have final received an Occupancy Permit on or before December 31, 2016. Eligible projects will be provided:
- 50% reduction in building and plumbing permit fees
- A property tax exemption on the value of eligible improvements for a maximum term of 5 years.
The Tourism, Sport and Culture Economic Investment Zone
Established to encourage the improvement of an existing building or construct a new building on a site within the designated area that has a construction value of $100,000 or greater. Conditional on that a Building Permit has been issued for the project between November 1, 2011 and December 31, 2013 and have final received an Occupancy Permit on or before December 31, 2016. Eligible projects will be provided:
- 50% reduction in building and plumbing permit fees
- A property tax exemption on the value of eligible improvements for a maximum term of 5 years.
The Commercial/Industrial Economic Investment Zone
Established to encourage the improvement of an existing building or construct a new building on a site within the designated area that has a construction value of $100,000 or greater. Conditional on that a Building Permit has been issued for the project between November 1, 2011 and December 31, 2013 and have final received an Occupancy Permit on or before December 31, 2016. Eligible projects will be provided:
- 50% reduction in building and plumbing permit fees
- A property tax exemption on the value of eligible improvements for a maximum term of 5 years.
Key Land Uses
Key Land Uses are subject of a Building Permit for new construction or renovations having a construction value of $1,500,000 or greater. A Key Land Use must fall within one of the Economic Investment Zones. Conditional on that a Building Permit has been issued for the project between November 1, 2011 and December 31, 2014 and have final received an Occupancy Permit on or before December 31, 2017. Eligible projects will be provided:
- 100% reduction in the Building permit fees for the eligible improvements.
- A property tax exemption of:
(i) 100% of property taxes payable on land and eligible improvements for a maximum term of 3 years.
(ii) 100% of property taxes payable on the value of eligible improvements for a further term of up to 2 years.
Note: All developments may be eligible for Development Cost Charges (DCC) reductions as well – please see the DCC Bylaw for details.
For more information please view the EIZ Bylaw
Questions? Contact Penticton Economic Development



