Tax Incentive Awards – Application Due Friday, October 3rd 2025
Application ->2025 Business Tax Incentive Application
The purpose of the Tax Incentive Awards is to recognize and support long-standing businesses within the Town of Placentia by offering a business tax incentive. This program highlights the value of sustained contributions to the community and rewards the dedication of businesses that have been a cornerstone of local economic development. Businesses will receive a tax incentive toward their business taxes in a year of an anniversary of operations in the Town based on Council approval of a standard application. For determining the length of operations, the beginning year will be based on the latter of the year of amalgamation (1994) or the first of operation of a business. If a business owner sells the legal entity, the years of operation will not be affected for the basis of award for forgiveness. In the first year of the policy, businesses shall only receive one incentive being the highest milestone achieved. In the year of award, businesses will receive the incentive after all outstanding taxes are paid and they have an approved application. Businesses with an existing tax agreement with the Town do not qualify for this incentive.
Categories
• 5% forgiveness of business tax capped at $500.00 for 5 years of operations
• 10% forgiveness of business tax capped at $1,000.00 for 10 years of operations
• 25% of forgiveness of business tax capped at $1,500.00 for 25 years of operation plus a commemorative plaque.
Milestone Awards – Application Due Friday, October 3rd 2025
Application -> 2025 Milestone Awards Application
The purpose of the Milestone Awards is to celebrate achievements across the business community by recognizing new entrepreneurs, youth in business, and businesses that have demonstrated longevity of 50+ years. These awards provide categories that highlight innovation, leadership, and commitment, showcasing the vital role businesses of all stages play in strengthening the Town of Placentia.
Categories
- Youth Entrepreneur of the Year
- Business Longevity Award
- Bright Beginnings Award