The population of Borden-Carleton has dropped significantly, says Mayor Dean Sexton. (CBC)

The town of Borden-Carleton wants to attract more business and residents to the area, and is offering a five-year tax holiday for people who build.

The tax rebate would be available for single family homes, apartments, and commercial properties.

"We're really trying to work on getting a subdivision going," said Mayor Dean Sexton.

"We're offering up the municipal portion of our tax to any new builder, home or commercial property, anything over $50,000. And it's good for five years, this tax incentive."

The tax holiday would be transferable, should the owner sell in that five-year period.

There is work available close by — a box plant and a potato processor just outside the town — but Sexton said the workers for the most part do not live in Borden-Carleton.

"Most of those workers unfortunately live in the outlying area, and they commute every day," he said.

Since the Confederation Bridge first opened 16 years ago, the population of the Borden-Carleton area has dropped nearly 40 per cent, from 1,100 to 750 residents.