The City of Joburg now considers the concept of low tax incentive zones to stimulate economic growth, says Franco de Lange, FF Plus councillor of the coalition government in the Johannesburg Metro.
De Lange says low tax incentive zones is a highly successful international concept to stimulate the economy and provide a knock-on effect on businesses in the surrounding area. It could draw in local and even international investors.
According to De Lange the Economic Development Section 79 Oversight Committee visited a number of micro economic hubs and informal areas with huge potential for future growth and job creation within the city over the past few months to investigate the possibility of this concept.
“Through the Committee’s engagement with Small, Medium and Micro Enterprises (SMME’s) and small business owners it became clear that the city needs a new strategy in facilitating a process to earmark land parcels and provide industrial parks in key areas to stimulate an area based SMME development and support.
“The city’s property portfolio is currently managed by the Joburg Property Company. After a five-year land audit process and after years of neglect and underfunding by the previous government we are now in a position to kick start the process of rezoning and in the near future tap into the potential of having investment ready land parcels for housing and commercial activities.
“The department of economic development in conjunction with other municipal departments through the mayor’s office are currently working on a new economic strategy for our city and this new modern and properly budgeted vision will be rolled out early next year.
“The FF Plus Johannesburg, as part of the local coalition government, is committed to growing the city’s economy and to create job opportunities,” says De Lange.
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