Business tax exemptions offered

SANDPOINT — Bonner County is utilizing a section of state law to offer an inducement for businesses looking to relocate here or expand.

County commissioners coordinated with Assessor Jerry Clemons to implement the policy, which enables commissioners to declare property exempt for all or a portion of the market value of new plant and building facilities that meet tax incentive criteria.

Such exemptions could be up to five years on new plant investments of more than $3 million.

“We anticipate that this business incentive policy will attract new businesses and create more jobs in Bonner County,” commissioners said in a news release.

Property eligible for exemption is limited to new manufacturing facilities. Land is not eligible for the exemption, nor are existing buildings.

Approval is at the discretion of the county commission.

Commissioners thanked Bonner County Economic Development Corp. Executive Director Paul Kusche for drawing the code section to the board's attention.

For information on obtaining these benefits, contact Kusche at prkusche@bonnercountyedc.com.