Economic Development & Growth in Employment (EDGE) Incentive Program<\/a> was first enacted at the end of 2024. It\u2019s part of Mayor Oliva Chow\u2019s Economic Action Plan created in response to U.S. tariffs, as a way to support growth and investment in the city\u2019s key economic sectors.<\/p>\n\u201cThe EDGE Incentive Program is one way we are staying competitive so Toronto businesses don\u2019t need to look elsewhere for the support they need to invest and expand,\u201d Chow said.<\/p>\n
National Dry Beverages is an independent bottler operating since 1959 in North York. The company manufactures products including, Clearly Canadian, Brio, and Fizzler.<\/p>\n
The company is expanding its facility to nearly 130,000 square feet and hiring 20 new full-time employees. Their expansion reflects an $18.1 million investment in construction, as it added around 62,000 square feet and is boosting its permanent workforce by nearly 40 per cent.<\/p>\n
\u201cWe are about to double our existing footprints, which will support our increased demand which allows new brands entry itno the Ontario marketplace and allows Canadian brands to expand beyond our borders,\u201d Dave Watson, vice-president of oepration at National Dry Beverages, said.<\/p>\n
Under the program, the city will refund the extra property tax generated from companies\u2019 growth for five years.<\/p>\n
Other eligible sectors include, biomedical operations, film studio complexes, incubators, scientific research and development, and tourism attractions.<\/p>\n
\u201cWe strengthen the economy by investing in the key sectors knowing which ones have the potential to grow. We also need to protect our employment lens,\u201d Coun. Shelley Carrol said.<\/p>\n
City staff say one other business has been approved and five other have applied, but they did not disclose which companies had done so. <\/p>\n
The city plans to hold information sessions for other potential businesses this upcoming May and June.<\/p>\n","protected":false},"excerpt":{"rendered":"The City of Toronto has approved the first company as part of a program encouraging local businesses to…\n","protected":false},"author":2,"featured_media":563458,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194291],"tags":[712,49,48,3302],"class_list":{"0":"post-604359","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-toronto","8":"tag-apple-news","9":"tag-ca","10":"tag-canada","11":"tag-toronto"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/604359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=604359"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/604359\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/563458"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=604359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=604359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=604359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}