Taxes chokehold NorskeCanada
July 5, 2005 By Pulp & Paper Canada
NorskeCanada is blaming a sky-high property tax bill for its inability to invest in its facilities. The company wil…
NorskeCanada is blaming a sky-high property tax bill for its inability to invest in its facilities. The company will have to shell out $31.3 million for its five divisions and head office, an amount is says is impeding major reinvestment in its operations, while other North American jurisdictions are creating incentives for industrial development. Even though this year’s tax is marginally lower than last year’s $32 million total, the amount is significantly higher than it would be in other regions, about twice as much per tonne of product than the North American average.
"Industry investment in capacity and innovation is a better way to keep local economies and the tax base strong for the long-term and the municipalities that take this message to heart are continuing to grow and develop as a great places to live, work and raise families," said company president and CEO Russell J. Horner. "We’re fully prepared to pay our fair share to support community infrastructure, but we are also pointing out the realities of a competitive marketplace," he added.
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