The RMWB won’t be collecting business license fees for the rest of the year.

Wood Buffalo council met on Tuesday where they approved a motion by Councillor Jane Stroud to waive the $60 fee.

Speaking on Fort McMurray Matters, Mayor Don Scott noted they would rather see the funds stay in the local economy.

“It all adds up and certainly they’ll have the opportunity to spend it in the community rather than giving it to the government.”

In 2020, around 2,000 licenses were bought which raised over $127,000 in revenue.

The municipality had projected around $100,000 in revenue this year.

“We want to make sure local businesses are getting help and we’ve done various things in the past but we want to really get local businesses moving,” added Scott.

So far, around $18,000 has been raised from business licenses. The RMWB is planning to provide these individuals with a full refund.