January 1

Town of Berlin offers business owners new tax incentive

first_imgAt its 2011 town meeting on March 1, the Town of Berlin approved a policy that allows the town Select Board to negotiate tax stabilization agreements with business owners who choose to locate, expand or improve properties in town. Select Board members believe that the policy offers a valuable incentive for business owners to move into Berlin, whose location and infrastructure already offer a lot of advantages.  ‘Berlin is an ideal location, central within the state, just off I-89 and is home to E.F. Knapp State Airport,’ said Select Board Chair Susan Gretkowski. ‘We also have ample property available for business development, both in our business park and other designated areas in accordance with the Town Plan. Businesses like Blue Cross Blue Shield of Vermont, UPS, Staples, TJ Maxx, Price Chopper, Central Vermont Medical Center, and many others have chosen to locate here, and we’d like to welcome many more,’ she said. The policy, which could apply to any commercial, industrial, or multi-unit residential property, includes a three-year and a five-year option for tax stabilization, which essentially phases in the additional taxes owed on new construction,  renovations, additions and other improvements, for an investment of $200,000 or more. The Select Board would evaluate each tax stabilization proposal based on certain criteria, such as whether the improvements will create jobs, eliminate blight, and stimulate growth consistent with the Town Plan. Pat McDonald, Chair of the Berlin Economic Development Council, was eager to get the word out to the Vermont business community. ‘We think this policy offers a lot of potential and a lot of flexibility for entrepreneurs and existing businesses looking for some assistance and encouragement as they take the next step in growing their businesses. We encourage anyone who would like more information to get in touch with us,’ McDonald said.BERLIN, April 5, 2011last_img read more