Economic growth and sustainability is the driving force behind DNB. Bringing together the various regions of New Brunswick to work together to make the Business Improvement Areas of our province prosper. In order to achieve this objective, we have narrowed our focus to our top 3 priorities.
1. Funding Program to Implement NB BIA Planning Initiatives
DNB in partnership with the Province of NB – Regional Economic Development Corporation and Government of Canada through ACOA must work toward the establishment of an investment program designed to stimulate growth, sustainability and future development of our BIA’s and Downtown Cores.
2. Tax Incremental Financing Program
Tax increment financing (TIF) is a financial tool which allows local governments to encourage economic development through a public-private partnership mechanism based on property tax. TIF has been widely used in the United States; and some Canadian provinces such as Ontario, Manitoba, and British Colombia have passed TIF legislation.
3. Business Improvement Act- Review and Amendments
DNB would like to work together with the Province of NB on a review of the current BIA Act. BIA’s by nature are a creation of the commercial property owners and members, they set their own levy rate, approve their budget and request imposition of a municipal By-Law for the collection of this levy which is then returned to the BIA for their operations and reinvestment in the business area. It is important for the BIA Act to be reviewed in partnership with DNB to address short- comings related to BIA protections.