Business Information
General Business Information
Financial and professional assistance is available for business startups and expansions from a number of public agencies, including:
Department of Industry, Trade and Rural Development
Atlantic Canada Opportunities Agency
CBDC Labrador
Central Labrador Economic Development Board
The Labrador North Chamber of Commerce also provides excellent services to its members, including the facilitation of partnering opportunities.
Department of Industry, Trade and Rural Development
Atlantic Canada Opportunities Agency
CBDC Labrador
Central Labrador Economic Development Board
The Labrador North Chamber of Commerce also provides excellent services to its members, including the facilitation of partnering opportunities.
Business Tax Rates
Business tax rates in Happy Valley-Goose Bay vary from 7.60 mils (for businesses such as ceramic shops, delivery services and farms) to 60.09 mils (for finance companies) of gross sales. Commercial property is taxed is 11.5 mils.
For more information, please go to the Tax Information section under the Municipal Directory.
For more information, please go to the Tax Information section under the Municipal Directory.
Provincial Taxes
The general corporate income tax rate is 14%. However, small businesses are taxed at a reduced rate of 5%. The reduced tax rate for small business is available to corporations that qualify for the federal Small Business Deduction (SBD). To qualify for the SBD, the taxpayer must be a Canadian controlled private corporation (CCPC) throughout the tax year, and have income from an active business carried on in Canada. Effective January 1, 2009, the corporate income tax small business threshold will increase from $400,000 to $500,000.
Health and Post Secondary Education Tax (payroll tax), at a rate of 2%, is payable by employers who's annual remuneration in this province exceeds a predetermined exemption threshold. Effective January 1, 2008 the exemption threshold has been increased to $1 million for all employers.
Health and Post Secondary Education Tax (payroll tax), at a rate of 2%, is payable by employers who's annual remuneration in this province exceeds a predetermined exemption threshold. Effective January 1, 2008 the exemption threshold has been increased to $1 million for all employers.
New Business Creation
The majority of the larger private sector firms in Happy Valley-Goose Bay are involved in retailing, wholesaling or service activities. Increasingly, we are seeing a diversification of existing businesses to take advantage of the region's opportunities. The business community, through the Labrador North Chamber of Commerce, is very proactive in aggressively seeking new investment and partnering arrangements. The types of opportunities being addressed include the provision of goods and services to industrial as well as traditional domestic customers, distributorships for the mining sector and partnerships at a number of levels. In addition to opportunities in Newfoundland and Labrador, business people are also pursuing opportunities for the export of goods and services to other provinces and countries. There is also a growing trend towards the creation of home-based businesses in Happy Valley-Goose Bay.
Approvals have been granted by the Town for a wide range of home-based uses, including consulting & advisory services, courier service, computer-based, health-related, electronics, recording and bed & breakfast businesses.
The Town is responding to the needs of new developments. New business opportunities are constantly evolving and we are always eager to talk to new business proponents.
Approvals have been granted by the Town for a wide range of home-based uses, including consulting & advisory services, courier service, computer-based, health-related, electronics, recording and bed & breakfast businesses.
The Town is responding to the needs of new developments. New business opportunities are constantly evolving and we are always eager to talk to new business proponents.
Industrial Incentives and Facilities
Industrial/Commercial Land
North Side Industrial Park is located adjacent to the Airport. Within the Park the Town has approximately 10 hectares (25 acres) of vacant, serviced land for sale. The North Side Industrial Park is increasingly becoming the focus for new developments related to the airport. In addition, with its close proximity to the harbour, the North Side Industrial Park offers many opportunities for the warehousing of goods destined for the coast of Labrador.
For information on these exciting opportunities, Contact Us for further details.
The airport and 5 Wing Goose Bay have assets with an estimated replacement value of $1.2 billion. They include 298 buildings with approximately 330,000 m2 of floor space, the majority of which is owned by the Department of National Defense.
Management of the Base is the responsibility of a private company, SERCO Facilities Management Inc. Part of the negotiations around the change in management with the Departments of National Defense and Transport Canada was the definition of a Civil Aviation Footprint and the privatization of Goose Bay Airport. This has led to the creation of the Goose Bay Airport Corporation who assumed management of the airport in 1998. Their responsibilities include management and marketing of airport industrial lands for civilian uses. The Corporation is marketing the airport to industry for strategic uses such as import/export, freight forwarding, manufacturing and aircraft servicing operations. Goose Bay is one of a handful of airports on the continent qualifying as an alternate landing site for the Space Shuttle program, due directly to the quality of its infrastructure and favourable weather conditions.
The Port of Goose Bay includes two industrial docks. The Main Dock is a 244 m long by 15 m wide marginal wharf with 9 m. minimum water depth on the west side and 5.6 to 9.1 m. minimum water depth on the east side. The second dock is a pier wharf 51 m. long with 5.4 to 7 m. minimum water depth. The main storage shed is 53 m by 31 m. Other infrastructure includes asphalt and fuel tanks and a transshipment warehouse. There is also a substantial area of lay down space. Within easy access of these docks there is a large amount of land that could easily be converted to suit a variety of industrial needs.
North Side Industrial Park is located adjacent to the Airport. Within the Park the Town has approximately 10 hectares (25 acres) of vacant, serviced land for sale. The North Side Industrial Park is increasingly becoming the focus for new developments related to the airport. In addition, with its close proximity to the harbour, the North Side Industrial Park offers many opportunities for the warehousing of goods destined for the coast of Labrador.
For information on these exciting opportunities, Contact Us for further details.
The airport and 5 Wing Goose Bay have assets with an estimated replacement value of $1.2 billion. They include 298 buildings with approximately 330,000 m2 of floor space, the majority of which is owned by the Department of National Defense.
Management of the Base is the responsibility of a private company, SERCO Facilities Management Inc. Part of the negotiations around the change in management with the Departments of National Defense and Transport Canada was the definition of a Civil Aviation Footprint and the privatization of Goose Bay Airport. This has led to the creation of the Goose Bay Airport Corporation who assumed management of the airport in 1998. Their responsibilities include management and marketing of airport industrial lands for civilian uses. The Corporation is marketing the airport to industry for strategic uses such as import/export, freight forwarding, manufacturing and aircraft servicing operations. Goose Bay is one of a handful of airports on the continent qualifying as an alternate landing site for the Space Shuttle program, due directly to the quality of its infrastructure and favourable weather conditions.
The Port of Goose Bay includes two industrial docks. The Main Dock is a 244 m long by 15 m wide marginal wharf with 9 m. minimum water depth on the west side and 5.6 to 9.1 m. minimum water depth on the east side. The second dock is a pier wharf 51 m. long with 5.4 to 7 m. minimum water depth. The main storage shed is 53 m by 31 m. Other infrastructure includes asphalt and fuel tanks and a transshipment warehouse. There is also a substantial area of lay down space. Within easy access of these docks there is a large amount of land that could easily be converted to suit a variety of industrial needs.