The City of Merritt is expected to see over $1.9 million in construction development this year with the approval of two major projects under the Revitalization Tax Exemption Bylaw.

Aimed at rewarding new development, the bylaw was approved unanimously by city councillors in January.

The bylaw offers a tax incentive to both new businesses and expansions to existing businesses by phasing in taxation over a four-year period.

“The bylaw is designed to support a partnership with business and developments and provide the ‘tipping point’ for new construction and development of projects throughout the community,” Merritt Economic Development Manager James Umpherson said. “The Revitalization Tax Exemption Bylaw has achieved exactly what it was intended to do for development.”