Business incentives

Imagination, Manufacturing, Innovation, Technology (IMIT) Incentive 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.

 

TIEG Grant over 10 years

Click on graph for larger image

The incentive level for construction of new buildings or substantial renovation of existing buildings in Employment Districts and other designated Employment Areas shown on Map 2 and Maps 13 – 23, Areas A-K of the City of Toronto Official Plan has been increased to 70% of the increase in the municipal taxes attributable to eligible commercial and industrial construction over a 10-year period. When part of a combined Brownfield Remediation Tax Assistance (BRTA) application the incentive increases to 77%.

Eligible sectors and uses

The program generally targets the following:

Sectors

  • Biomedical Operations
  • Creative Industries
  • Financial Services
  • Information and Communications Technology
  • Manufacturing
  • Tourism Attractions

Uses

  • Broadcasting
  • Call Centres
  • Computer Systems Design and Services
  • Convergence Centres
  • Corporate Office
  • Corporate Headquarters
  • Film Studio Complex
  • Food and Beverage Wholesaling
  • Office Building
  • Incubators
  • Information Services and Data Processing
  • Scientific Research and Development
  • Software Development
  • Transformative Project

Eligibility criteria

  • Applications must be submitted prior to issuance of the main building permit
  • The property must not be in tax arrears
  • The owner must develop an employment plan to support local hiring and/or training
  • If the construction value exceeds $150,000,000 application will require City Council approval
  • Construction must:
    • conform to all City processes and permits. Status to be confirmed annually.
    • value at least $1 million as evidenced on application and the main building permit
    • meet minimum Toronto Green Standard
    • not be demolished over the term of the incentive
  • The development must increase the amount of GFA for Eligible Uses by at least 500 square metres
  • New building, expansion or substantial rehabilitation of existing building
  • Eligible Location
  • Eligible sector or use
  • Applicant must be the owner of property or their designated agent
  • Agree to meet annual reporting requirement

Community Improvement Plans

The program applies to designated areas within the City as outlined in the following three Community Improvement Plans:

Email us at incentives@toronto.ca or call 416-392-0626 for the Imagination, Manufacturing, Innovation, Technology Property Tax Incentive Program application form.