How it's done
The business climate is the general economic environment that local businesses operate in. Reviewing and understanding the local business climate provides valuable insights about the economy, costs, risks, and incentives that may impact the success of your business. This activity will guide you to better understand the business climate in Sylvan Lake and help you answer the following fundamental questions.
What is the business climate in Sylvan Lake?
We have compiled the most important aspects of Sylvan Lake’s business climate as an interactive dashboard below. This dashboard provides valuable economic, resident, household, dwelling and development indicators that may influence the success of your business.
What costs and assistance should I know about?
Whether you have a new or existing businesses it is critical to be aware of costs, incentives and grants that impact your business. This dashboard provides you with a snapshot of the major costs of conducting business in the Region as well as information on available financial assistance.
Alberta has one of the most competitive tax environments in North America, and is the only province that does not have a provincial retail sales tax. Alberta has no provincial capital or payroll taxes, and the Town of Sylvan Lake has no local business tax.
Starting January 1, 2017, the small business tax rate in Alberta was cut from 3% to 2% - giving Alberta the second lowest small business tax rate in the country, tied with Saskatchewan. On June 4, 2019, the new Alberta government introduced Bill 7 that would let municipalities offer new property tax incentives to attract business, boost economic development and revitalize communities. The multi-year tax incentives would provide additional incentives for brownfield property redevelopment.
Specific information on Assessments and Tax in Sylvan Lake can be found on the Town of Sylvan Lake’s Property Tax web page by clicking here
To compare the mill rate between communities click here
The Town of Sylvan Lake facilitates growth of the community through off-site levies on transportation, water, sanitary, and stormwater infrastructure that meet the needs of development, and accompanying charges that are fair and equitable, comply with legislative and regulatory requirements, and recover the full cost of the infrastructure in order to ensure a financially sustainable community.
To date, the Town of Sylvan Lake has established various levies, development charges, and agreements to help fund off-site infrastructure costs. The establishment of new harmonized off-site levy methodology provides the Town with:
- A repeatable process;
- Rate continuity;
- Insight into the cost of infrastructure required to support development;
- The grants and other contributions that may be anticipated in defraying infrastructure costs; and
- Infrastructure cost assignment to benefiting parties.
For detailed information regarding off-site levies click here
For the most up-to-date development fee schedule click here.
Municipalities provide utility providers with access to Town land on which to locate utility infrastructure such as pipelines for natural gas or wires for electricity distribution. When utility providers run infrastructure on privately owned land, they have to pay rent. It is the same for publicly owned infrastructure. Utility providers are granted exclusive right to provide a utility service within a municipality. In other words, they are given an exclusive franchise to provide a particular utility service. Franchise agreements are common in the public utility sector, particularly with respect to the delivery of electricity and gas. Charges for public land and conditions for use of public land are documented in franchise agreements and the charges are referred to as franchise fees. The fees compensate the Town for direct costs, restrictions on planning and development due to utility rights of way, as well as inherinet risks related to utility access.
Water and Sewer
Wastewater is collected, treated with air, stored, and released into Cygnet Lake - once in the spring, and once in the fall. Wastewater activities are heavily regulated by the federal government's Wastewater Systems Effluent Regulations - Fisheries Act. Sylvan Lake benefits from naturally good quality water, which comes from a well system. We chlorinate, but no other purification or additives are needed.
For more information about water and sewer utility rates in Sylvan Lake click here
- Big Bear Energy Services
- Wal-Mart Super Centre
- Canadian Tire/Mark’s Work Warehouse
- Sobey’s Inc.
- Shopper’s Drug Mart
- Chinook’s Edge School Division
- Town of Sylvan Lake
- NexSource Power Inc.
- CWC Energy Services
- Spartek Systems
- No business tax
- No provincial sales tax
- No payroll tax
- No inventory tax
- No health care premiums
- Free provincial health care insurance
- Lower personal income tax rates
- Many federal and provincial incentives and grants available
- Small business income tax rate of 2%*
- Corporate income tax rate of 11%
- Alberta BoostR
- Alberta Innovates
- Alberta Women Entrepreneurs
- Bennett Jones Kickstart
- Business Link - Finding Financing
- Catapult Entrepreneurs
- Community Futures
- Edge Investment Forum
- Industrial Research Assistance Program
- Innovate Calgary
- Invest in Canada
- Startup Calgary
- National Research Council Canada