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Kitchener proposes reno grants to attract companies downtown – Kitchener-Waterloo – CBC News

Kitchener’s Economic Development department is proposing a new grant aimed at attracting startup companies to the city’s downtown, by helping to fund renovations.

Tech Triangle‘s insight:

The plan is to offer grants of up to $40,000 per floor, for renovations of upper-storey, mixed-use properties along King and Queen Streets. The grants would only be offered if the total cost of the renovations is at least $80,000.

“We are interested in supporting the redevelopment of some of these spaces into cool boutique office space which can attract our startup technology community, ” Rod Regier, the Economic Development executive director, told CBC News on Monday,

He says the downtown acts as an incubator where people exchange ideas and cross-pollination often happens in a social setting.

“Right now downtown Kitchener has one of the most dynamic startup technology ecosystems in Canada,” Regier said, adding the city’s core area can produce up to 20,000 new jobs in in the next 10 to 15 years.

See on www.cbc.ca

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