From Taproot:
Edmonton has
230 hectares of shovel-ready industrial land, 1,150 hectares of partially serviced industrial land, and 7,000 hectares of land that are vacant and can be developed or is planned for development, according to an update on the
Industrial Investment Action Plan that will be presented to council’s executive committee on June 18. The update said there are 747 vacant industrial sites in the city. To streamline approval processes for non-residential investment, administration has created a program that will provide new proposals for industrial buildings that meet certain criteria a guaranteed timeline of 40 days for development and partial building permits. Administration has also worked with 12 regional partners to create a collaborative economic development program where Edmonton could invest in non-residential sites outside of its boundaries. Municipalities would share in the costs of making a site shovel-ready and also share in the resulting revenue. The action plan was developed to address Edmonton’s decreasing share of non-residential land in the region. Such land is critical to the city’s finances because industrial land is taxed at a higher rate than residential properties and can therefore lessen the tax burden on residents.