The Steinbach Chamber of Commerce is feeling very optimistic about the provincial budget announced last week.
"It definitely did deliver positive momentum for Steinbach businesses and the City of Steinbach with some of those budget line items that were there, and I am very excited to see additional details as they get communicated to the public," says Tracy Gromniski, president of the chamber.
Positive Payroll Tax threshold changes
One of those items includes changes to the payroll tax threshold.
The budget has lifted the point businesses start paying this specific tax to $2.5 million of annual payroll, from $2.25 million. The boundary for a second rate has also gone from $4.5 million to $5 million.
This will free up some resources for hiring, investments, wage growth and scaling opportunities, Gromniski says.
"In this day and age, you'd be surprised how many businesses are actually impacted by that payroll tax. Industries that have high-skill professionals, even some medium sized businesses are impacted by that payroll tax levy," she notes.
"So it's a really positive step towards growing local economy by allowing that tax relief."
Strategic Innovation Fund investment boost
Gromniski says a $50 million investment in the Strategic Innovation Fund is also good to see.
"It's aimed to support industries and stimulate economic growth, enhance productivity, and encourage and foster job creation in Manitoba" she explains.
The president looks forward to seeing how local businesses will tap into that funding for their internal growth, scaling and adaptation.
"Maybe implement some new technology, do some increased professional development, add additional skilled resources to their labour pool, and just overall boost their business growth," she says.
Looking for more details on infrastructure
While the payroll tax change and the Strategic Innovation Fund investment are key, she says there were some things she was hoping to see in the budget, but didn't.
That includes details on how infrastructure investments would be allocated, especially given the provincial roads that run through Steinbach.
"The only projects that were stated in the budget were the perimeter and the Highway 1 East. Getting additional details as those come out will be key for Steinbach" — for economic growth and community safety, she says.
It's not the only thing that's uncertain at this point.
U.S. economic relations remain a concern
"Everybody's trying to gain efficiency and productivity, and be as lean as possible on the spending factor, especially if they're impacted by potential trade disruptions with the U.S.," Gromniski says.
For this reason, all support and funds available through the government are essential.
She says a lot of the focus and chatter in the local business community right now is around uncertainty — but everyone is doing their best.
"When we are faced with many things we can't control, we focus and look at opportunities in things we can control," she says.
As such, many businesses are talking about the items in the provincial budget that will sustain their work.
Written with files from Kenton Dyck