Tax Credit
Imagination, Manufacturing, Innovation and Technology Program
Toronto's Imagination, Manufacturing, Innovation and Technology (IMIT) business incentive helps to reduce business costs. The IMIT Program was approved unanimously by Toronto City Council and supports new building construction and/or building expansion in targeted sectors and areas across the City. Eligible developments will benefit from a grant of 60% of the increase in the municipal taxes attributable to the eligible development over a 10-year period.
- 4.5/5.0
- City of Toronto
- All levels
- Last updated 2 months ago
- English
Description
Toronto's Imagination, Manufacturing, Innovation and Technology (IMIT) business incentive helps to reduce business costs. The IMIT Program was approved unanimously by Toronto City Council and supports new building construction and/or building expansion in targeted sectors and areas across the City. Eligible developments will benefit from a grant of 60% of the increase in the municipal taxes attributable to the eligible development over a 10-year period.- To help reduce business costs - eligible developments will benefit from a grant of 60 per cent of the increase in the municipal taxes attributable to the eligible development over a 10-year period.