TIF and BDD Financing

The City of Canton is committed to fostering economic development and revitalization. Canton offers Tax Increment Financing (TIF) and Business Development District (BDD) programs that encourage private investment in designated areas within the city.

The TIF/BDD programs are designed to provide financial incentives and support for businesses and developers using sales tax and property tax revenues generated within the districts. Through TIF/BDD, we aim to stimulate job creation, attract new businesses, improve infrastructure, and enhance the overall vibrancy of our community.

TIF Districts

There are 3 TIF districts in Canton. Projects in TIF districts typically include the following:

• Redevelopment of substandard, obsolete, or vacant buildings
• Financing public infrastructure improvements, including streets, sewer and water in declining areas
• Cleaning up polluted areas
• Improving the viability of downtown business districts; rehabilitating historic properties
• Providing infrastructure needed to develop a site for new industrial or commercial use

For more information regarding Canton’s Tax Increment Financing (TIF) District please contact SRPED Executive Director.

Business Development District (BDD)

 Projects in Canton’s Business Development District typically assist businesses with:

• Vertical construction costs of new private buildings; 
• Rehabilitation, repair, & renovations of existing structures; 
• Site preparation and demolition; 
• Engineering, architectural, legal & other professional costs;

For more information regarding Canton’s Business Development District (BDD) please contact SRPED Executive Director.