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Corner Brook paper mill to get tax break
Kruger's Corner Brook paper mill got a financial boost from the provincial government, when a tax exemption, worth $6 million was extended until at least 2017.
April 11, 2013 By The Telegram
In an order in council issued by the provincial cabinet in early March, the government waived the “managed land tax” for a period of five years for , from the 2012/13 budget year through to 2016/17.
Natural Resources Minister Tom Marshall said the tax break has been in place since a previous restructuring effort at the mill in 2009, and the government chose to extend it for five years as the mill struggles to remain financially viable.
“If the paper mill goes down, I’m advised that the sawmills will go down as well,” Marshall told the Telegram. “It’s not just one plant; it’s the whole industry.”
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