Innovation and Development Labour Rebate Program
PE, Canada
Tax credit for development and commercialization in Prince Edward Island (PEI)
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Innovation PEI
- Government of Prince Edward Island
grant_single|status
grant_card_status|open
grant_single_labels|preview
25% tax credit for eligible labour costs on projects to develop and commercialize new products, processes and services in PEI.
grant_single_labels|projects
grant_single|admissibleProjectsExample
$ 50,000
Launching an innovative software solution from a new office
$ 87,500
Commercializing new organic farming techniques from Kensington targeting the global market
$ 37,500
Developing a new line of sustainable packaging for export from Charlottetown
$ 62,500
Introducing a new marine transport service from Charlottetown for international clients
$ 60,000
Developing a new AI-driven customer service platform from Cornwall for global businesses
$ 75,000
Expanding solar panel production facilities for international markets
grant_single_labels|admissibility
The PEI Labour Rebate supports Island businesses in Prince Edward Island that create new jobs linked to development, expansion, and commercialization of export products, processes, and services. Eligible businesses must operate in specific strategic sectors and meet other criteria such as having no defaulted debt obligations.
- Business must be located in Prince Edward Island and registered to conduct business there.
- Manufactures, processes, or develops goods or services primarily for export.
- Operates within one of 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 first-of-its-kind exportable goods or services in other sectors.
- Not having a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.
- New project submissions should not be in default on any reporting, project completion, or financial obligation to Innovation PEI.
grant_eligibility_criteria|who_can_apply
The PEI Labour Rebate is available to businesses located in Prince Edward Island that are registered and actively operating. These businesses should primarily manufacture, process, or develop goods or services for export, and operate within specific strategic sectors or offer unique exportable goods or services.
- Bioscience
- Aerospace and defence
- Advanced manufacturing and processing
- Renewable energy and clean technology
- Information and communications technology
- Creative and cultural industries
- First-of-its-kind exportable goods or services (other sectors may be considered)
grant_eligibility_criteria|eligible_expenses
Projects are expected to be short term; the PLR is applied to a maximum of one year of eligible labour expenses. The project may exceed one year, but only one year’s expenditures will be used to calculate the PLR.
- Salaries and wages paid to PEI residents for incremental, full-time positions (1850 hours)
- Each position must have a gross wage of at least $35,000 per annum
- Businesses may be eligible for partial payments over several years (maximum ten years)
grant_single_labels|criteria
Yes, there are evaluation and selection criteria for this grant. Applications are reviewed on a first-come, first-serve basis and are assessed using specific evaluation considerations.
- Potential for long-term viability
- Degree of innovation
- Qualifications and track records of managers
- Market potential
- Availability of program funds
- Employment creation
- Level of assistance from other government supports offered or available
- Economic benefit to the province of Prince Edward Island
grant_single_labels|register
- Step 1: Consult with an Innovation PEI Business Development Officer
- Purpose: Obtain guidance on the suitability of the project and the application process.
- Implications: The officer may recommend alternative funding programs if the project is not a good candidate for the PEI Labour Rebate.
- Step 2: Prepare Business Information and Supporting Documents
- Purpose: Gather detailed business history, financial statements, business plan, and descriptions of the proposed project.
- Implications: The gathered documents should include economic benefits, cost estimates with quotations, and funding sources for the project.
- Step 3: Outline the History and Description of the Business
- Purpose: Provide a detailed history and operation description of the business.
- Implications: Existing businesses need to submit financial statements for the previous two years, while new businesses require a completed business plan.
- Step 4: Describe the Proposed Project
- Purpose: Present a detailed description of the project or activity related to the products and/or services delivered by the business.
- Implications: Include detailed information on estimated costs, economic benefits to the organization and PEI, and market position and projected market share.
- Step 5: Submit the Application
- Purpose: Complete the application form and attach all required supporting documents.
- Implications: Ensure the application is submitted before making any financial or legal commitments for the project to qualify for consideration.
- Step 6: Review and Acceptance
- Purpose: Await the review of your application by Innovation PEI.
- Implications: If approved, accept the letter of offer which will then constitute a contract between the government and the applicant.
grant_single_labels|otherInfo
The PEI Labour Rebate program has specific application requirements and performance monitoring guidelines.
- An application must be submitted before any financial or legal commitment is made on the project.
- Innovation PEI encourages potential applicants to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process.
- If the application is approved, a letter of offer stating the terms and conditions of approval will be forwarded to the applicant or corporate contact, which will constitute a contract upon acceptance.
- Innovation PEI reserves the right to deny a grant application or request for payment if it suspects or detects fraudulent intent.
