The town of New Glasgow will be giving up some of its land to help grow business.
New Scotland Business Development Incorporated is a company co-owned with the Municipality of Pictou County that was set up to develop a business park on lands owned by the two municipalities. However, because the tax rates of the town and county differ by a wide margin, NSBDI wants to have all of the land it controls within one boundary – that of the county, which has the lower tax rate, making it more attractive to business.
Pictou County council passed a resolution at Monday’s regular meeting to make an application to the provincial Utility and Review Board to have the parcel of land currently within New Glasgow annexed to the County. This will not affect the 50 percent ownership stake that New Glasgow holds in NSBDI. New Glasgow council is expected to pass a similar resolution later this month.