Enriched Investment Tax Credit

Q: How much funding can be received?

Enriched Investment Tax Credit Funds up to 25% of admissible expenses.

Q: What is the deadline to apply?

The program is accepting continuous intake

Q: Is the Enriched Investment Tax Credit a grant, loan, or tax credit?

Enriched Investment Tax Credit is a Tax Credits

Q: Who are the financial supporters of the Enriched Investment Tax Credit?

Enriched Investment Tax Credit is funded by Government of Prince Edward Island, Innovation PEI

Q: Who is eligible for the Enriched Investment Tax Credit program?

To be eligible for the Enriched Investment Tax Credit program, you must: • No specific eligibility criteria information is available for the Enriched Investment Tax Credit at this time.

Q: Who can I contact for more information about the Enriched Investment Tax Credit?

You can contact Government of Prince Edward Island by email at innovation@gov.pe.ca or by phone at 902-368-6300.

Q: Where is the Enriched Investment Tax Credit available?

The Enriched Investment Tax Credit program is available the province of Prince Edward Island.

Last Update: July 22, 2025

PE, Canada

Rebates for manufacturing and processing exporters in PEI

At a glance

Eligible Funding

Up to 25% of project cost

Timeline

Unspecified

Financing Type

Tax Credits

Eligible Industries

Manufacturing

Funds Providers

Innovation PEI

Government of Prince Edward Island

Program status

Open

Overview

Get a provincial corporate tax credit of 25% on costs associated with qualified manufacturing and processing equipment. To be eligible, your business should be operating in a strategic sector such as bioscience, aerospace and defence, renewable energy and

Activities funded

Examples of admissible projects:

$ 250,000

Purchasing new machinery for bioscience research at BioTech Innovations

$ 212,500

Upgrading processing methods at Healthy Harvest Co-op

$ 300,000

Implementing advanced aerospace manufacturing techniques at AeroTech Solutions

$ 237,500

Modernizing manufacturing facilities at Northern Fabricators Ltd

$ 225,000

Acquisition of high-productivity equipment for TechnoWave Inc

$ 250,000

Installing renewable energy technology at Green Future Co-op

Eligibility

Eligibility for this grant is determined by location, business operation specifics, and financial standing according to the outlined criteria.

The business must be located in Prince Edward Island and registered to do business and actively operating there.
The business must manufacture, process, or develop goods or services primarily for export.
The business must operate within these strategic sectors: bioscience, aerospace and defence, advanced manufacturing and processing, renewable energy and clean technology, information and communications technology, creative and cultural industries, or be a first-of-its-kind exportable goods or services in other sectors.
The business must not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.
New project submissions from an applicant in default on any reporting, project completion or financial obligation to Innovation PEI must resolve these issues to be eligible.

Who is eligible?

To be eligible for the Enriched Investment Tax Credit, a business must meet the following criteria:1. Location: The business must be located in Prince Edward Island (PEI).2. Registration and Operation: It must be registered to do business and actively operating in PEI.3. Type of Business: The business should be involved in manufacturing, processing, or developing goods or services primarily for export.4. Strategic Sectors: The business must operate within one of the following strategic sectors: - Bioscience - Aerospace and defence - Advanced manufacturing and processing - Renewable energy and clean technology - Information and communications technology - Creative and cultural industries - Other sectors may be considered if the business offers "first-of-its-kind" exportable goods or services.5. Debt Obligations: The business should not have any defaulted outstanding debt obligations on file in the Province’s Central Default Registry.6. Past Compliance: New project submissions will not be reviewed if the applicant is in default on any reporting, project completion, or financial obligation to Innovation PEI without resolving the default first.

Who is not eligible

This grant excludes certain companies and industries due to their main activity or financial status. The restrictions are in place to ensure alignment with the grant's objectives and to maintain financial integrity.

Companies involved in activities such as construction, farming, fishing, mining, logging, and petroleum and natural gas operations.
Businesses that have a defaulted outstanding debt obligation on file in the Province's Central Default Registry.
Applicants in default on any reporting, project completion, or financial obligation to Innovation PEI.

Eligible expenses

The Enriched Investment Tax Credit supports activities focused on modernization and productivity improvements for manufacturing and processing companies in Prince Edward Island. Eligible initiatives emphasize investment in advanced machinery and equipment aimed at enhancing export capabilities.

Investments in machinery or equipment used for manufacturing and processing goods primarily for export.
Acquisition of new, unused qualified property in Prince Edward Island dedicated to manufacturing or processing.
Applications that demonstrate the use of advanced manufacturing and processing methods to exceed labour productivity standards.

Selection criteria

The evaluation and selection of projects for the Enriched Investment Tax Credit are based on specific criteria aimed at ensuring economic benefits to the province and alignment with strategic priorities.

Potential for long-term viability, including qualifications and track record of senior management.
Cost benefit to the Province of Prince Edward Island.
Employment creation.
Export sales and import substitution.
Environmental impact.
Availability of program funds.
Level of assistance from other government programs offered or available.

How to apply

Preliminary Consultation

Contact an Innovation PEI Business Development Officer for guidance.
Discuss the suitability of your project for the Enriched Investment Tax Credit.

Application Preparation

Gather detailed business information including the history and description of the business.
Prepare financial statements for the previous two years (for existing businesses) or a business plan (for new businesses).
Describe the proposed project or activity and its economic benefits to Prince Edward Island.
Provide detailed cost estimates supported by written quotations and identify the source of funds.
Outline the business's current market position and projected market developments.
Compile a list of all shareholders and key management personnel.

Submit Application

Ensure application submission before any financial or legal commitment to the project.
Submit the full application package to Innovation PEI online.
Ensure all required information and documents are included for the application to be considered complete.

Application Review and Approval

Applications are reviewed on a first-come, first-serve basis subject to budget availability.
Upon approval, receive a Letter of Offer outlining the terms and conditions of the tax credit.

Implementation and Rebate Claim

Complete the purchase and implementation of the qualified property.
Submit a cost summary to Innovation PEI to verify the amount invested in qualifying property.
File the company’s annual income tax return and notice of assessment to receive the rebate cheque.

Additional information

Applicants must comply with the terms and conditions of approval, and crucial timelines must be adhered to for eligibility.

A corporation must apply for the Enriched Investment Tax Credit before making the investment in qualified property.
Information collected is subject to the Prince Edward Island Freedom of Information and Protection of Privacy Act.
Participants must consent to a public announcement relating to the investment and related accomplishments.

Contacts

innovation@gov.pe.ca

902-368-6300

PE, Canada

Apply to this program

Frequently Asked Questions about the Enriched Investment Tax Credit Program

Here are answers to the most common questions about the Enriched Investment Tax Credit. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.