How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Innovation and Development Labour Rebate Program?

Innovation and Development Labour Rebate Program is funded by Innovation PEI, Government of Prince Edward Island

What are Innovation and Development Labour Rebate Program's eligibility criterias?

Eligibility criteria not mentioned

Innovation and Development Labour Rebate Program

Last Update: March 26, 2025

PE, Canada

Tax credit for development and commercialization in Prince Edward Island (PEI)

Innovation and Development Labour Rebate Program at a glance

Eligible Funding

No Condition

Timeline

Continuous Intakes

Financing Type

Grant and Funding

Eligible Industries

All industries

Grant Providers

Innovation PEI
Government of Prince Edward Island

Status

Open

Overview of the Innovation and Development Labour Rebate Program program

25% tax credit for eligible labour costs on projects to develop and commercialize new products, processes and services in PEI.

Eligible projects & activities

Examples of admissible projects:

$ 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

Eligibility criteria of the Innovation and Development Labour Rebate Program program

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.

Who is eligible?

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)

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)

Eligibility criteria of the Innovation and Development Labour Rebate Program program

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

How to apply to the Innovation and Development Labour Rebate Program program

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.

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.

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.

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.

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.

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.

Additional information

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.