How much funding can be received?

Tax credit on total eligible payroll of 30% for marine biotechnology, mariculture and recreational and tourism activities and 15% for all other eligible activities.

grant_single_labels|projects

The grant is designed for corporations operating in specified maritime regions of Québec. These zones have been strategically chosen to stimulate economic growth and job creation.

Bas-Saint-Laurent
Côte-Nord
Gaspésie–Îles-de-la-Madeleine

grant_single|admissibleProjectsExample

$45,000

Launch of an oyster farming business

$28,500

Research on alternative uses for seaweed by-products

$15,000

Revitalization of a historical tourism site

$24,000

Development of sustainable seaweed farming technologies

$36,000

Enhancement of a mussel farming operation

$25,000

Expansion of a wind turbine manufacturing facility

grant_single_labels|admissibility

The eligibility criteria for this grant include specific conditions related to the corporation's location, activities, and certification requirements.

The corporation must have a facility in an eligible region: Bas-Saint-Laurent, Côte-Nord, or Gaspésie–Îles-de-la-Madeleine.
The activities must be eligible in the specific regions as follows:
Manufacturing in Gaspésie–Îles-de-la-Madeleine only.
Marine biotechnology and mariculture in all three regions.
Manufacturing or processing of slate or peat products in all three regions.
Production of wind power and manufacturing of wind turbines in Gaspésie–Îles-de-la-Madeleine and La Matanie RCM only.
Processing of sea products in Gaspésie–Îles-de-la-Madeleine, Côte-Nord, and La Matanie RCM only.
Recreational and tourism activities in Îles-de-la-Madeleine only.
The corporation must obtain an initial qualification certificate from Investissement Québec.
The corporation must demonstrate the potential to create at least three full-time positions in an eligible region within a reasonable time frame.
The corporation must obtain a business qualification certificate and an employee certificate each year from Investissement Québec.
The corporation should not be tax-exempt or a Crown corporation or its wholly-controlled subsidiary.
The recognized corporation's operations in the eligible region must begin no later than December 31, 2025.

grant_eligibility_criteria|who_can_apply

This grant is specifically targeted towards eligible corporations that are looking to create jobs in certain maritime regions of Québec, namely Bas-Saint-Laurent, Côte-Nord, and Gaspésie–Îles-de-la-Madeleine. The businesses that can apply are those engaged in specified sectors, including marine biotechnology, mariculture, manufacturing and processing of products from slate or peat, production of wind power, and manufacturing of wind turbines or processing of sea products in eligible areas. Corporations must operate within these specified regions and sectors to qualify. Moreover, these entities must be able to demonstrate job creation and operate facilities within these designated areas.

grant_eligibility_criteria|who_cannot_apply

This grant excludes certain companies based on their tax exemption status or Crown association. The restrictions ensure alignment with regional job creation goals.

Corporations with tax-exempt status for the taxation year.
Crown corporations or their wholly controlled subsidiaries.

grant_eligibility_criteria|eligible_expenses

This grant focuses on stimulating job creation through various eligible activities in the maritime regions of Québec. It encompasses several industry sectors that are vital to regional economic growth and sustainability.

Marine biotechnology and mariculture activities.
Manufacturing or processing of finished or semi-finished products from slate or peat.
Production of wind power and manufacturing of wind turbines. (Note: Limited to La Matanie RCM)
Processing of sea products.
Recreational and tourism activities specifically in Îles-de-la-Madeleine.

grant_eligibility_criteria|zone

The eligible expenses for this tax credit focus on wages related to eligible job functions within the specified regions and activities.

Salaries or wages paid to eligible employees, up to an annual limit of $83,333 per employee.

grant_single_labels|criteria

Yes, there are evaluation and selection criteria for this grant. The corporation must demonstrate its capacity to create at least three full-time positions in an eligible region and obtain necessary qualification certificates from Investissement Québec.

The corporation must obtain an initial qualification certificate issued by Investissement Québec.
The corporation must create at least three full-time positions in a reasonably short period of time.
The corporation must operate in an eligible region and conduct eligible activities as specified for each region.
Each year, the corporation must obtain a business qualification certificate for its activities from Investissement Québec.
The corporation must obtain an employee certificate for its eligible employees each year.

grant_single_labels|register

Here are the steps to submit an application for this grant:

Step 1: Initial Qualification Certificate
Complete the application for the Initial Qualification Certificate available from Investissement Québec.
Gather necessary corporate documents such as recent financial statements and articles of incorporation.
Submit the completed application form and documentation to Investissement Québec.
Pay the required fee as indicated in the Rates Schedule.
Step 2: Business & Employee Qualification Certificates
Apply for an annual Business Qualification Certificate from Investissement Québec.
Simultaneously apply for Employee Certificates for all eligible employees.
Ensure that each application is complete with required supporting documents.
Step 3: File Income Tax Return
Prepare the corporation’s income tax return including Form CO-1029.8.36.RM for Revenu Québec.
Attach the Business Qualification Certificate and Employee Certificates issued by Investissement Québec.
File the income tax return with Revenu Québec to claim the tax credit.
Step 4: Ongoing Compliance
Ensure continuous eligibility by operating in the designated regions and maintaining required employment levels.
Report any significant changes or events that might affect eligibility to Investissement Québec.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The tax credit is refundable, meaning the eligible corporation will receive the credit amount minus any taxes owed.
The eligible salary cap is $83,333 per year for each eligible employee.
Investissement Québec charges fees for issuing qualification and eligibility certificates, and for processing eligibility certificate applications.
Investissement Québec can revoke a certificate if a major unforeseen event occurs, which affects the company's eligibility.
There are specific penalties for providing false or inaccurate information, or for obstructing an Investissement Québec representative.
Eligible companies may receive financing for refundable tax credits to access funds more quickly.
Investissement Québec retains the right to visit eligible companies during the eligibility period to ensure compliance.
Only complete applications for certificates and attestations are processed and must be submitted within specific deadlines to guarantee timely issuance.

grant_single_labels|documents

Tax credit for Gaspésie and selected maritime regions of Quebec

grant_single_labels|contact

1-844-474-6367

Apply to this program

Boost Economic Growth in Quebec Maritime Regions

This tax credit initiative aims to enhance job creation in specified maritime areas of Quebec, including Bas-Saint-Laurent, Côte-Nord, and Gaspésie–Îles-de-la-Madeleine. Eligible corporations can obtain a refundable tax credit on their payroll expenses through December 31, 2025.

Understanding the Tax Credit for Maritime Regions of Quebec

The tax credit for job creation in the maritime regions of Quebec is a significant measure aiming to boost economic activity and employment in these key areas. Specifically, it targets marine biotechnology, mariculture, sea product processing, and recreational tourism sectors, providing unique opportunities for businesses operating within these fields. This initiative is part of Quebec's broader strategy to stimulate regional economic development by leveraging local resources, enhancing sectorial strengths, and supporting community vitality.

Eligible businesses can access financial relief through a refundable tax credit that helps offset payroll expenses. The credit is substantial, offering up to 30% for eligible areas such as marine biotechnology, mariculture, and recreational and tourism activities, which signifies a commitment to supporting innovative and labor-intensive industries. For other qualifying activities, companies can receive a 15% credit rate. The refundable nature of this tax credit means that businesses will receive the relief even if their tax payable is less than the credit, providing a direct financial boost that can be reinvested into staffing, training, and business expansion activities.

By focusing on job creation, this tax measure also addresses broader socioeconomic goals. It aims to increase employment rates in regions historically dependent on traditional industries by diversifying economic activities. As companies expand their operations or initiate new projects, they are required to create the equivalent of at least three full-time positions in these regions. This growth in employment translates to improved economic stability and enhanced community development opportunities in these maritime areas, leading to sustained regional growth.

However, securing this tax credit requires compliance with specific criteria. Corporations must obtain an initial qualification certificate from Investissement Québec, proving their capacity to contribute to job growth within these communities. Furthermore, renewable annual business qualification certificates and employee certificates are mandatory to maintain the eligibility for tax credits. This rigorous certification process ensures that only committed businesses contributing genuine economic benefits are rewarded, which in turn maximizes the efficacy of the public funds allocated through this initiative.

Moreover, regional specificity in the activities covered by the tax credit encourages businesses to align their operations with local priorities and strengths. For example, the Îles-de-la-Madeleine is specially targeted for recreational and tourism activities, highlighting the area's potential as a tourist destination and encouraging hospitality and service sector growth. Meanwhile, all three regions of Bas-Saint-Laurent, Côte-Nord, and Gaspésie-Îles-de-la-Madeleine are targeted for marine biotechnology, mariculture, and sea product processing, leveraging the rich maritime environment to stimulate innovation and product development in these areas.

Consequently, this tax credit not only serves as a financial resource for existing businesses but also acts as an attractive incentive for new businesses considering establishing operations in these regions. The prospect of financial relief for operational costs encourages investment and entrepreneurship, fostering an environment where new ideas can flourish and contribute to the economic fabric of the region.

Overall, Quebec's tax credit initiative offers a compelling economic stimulus for businesses aiming to capitalize on the region’s unique resources and opportunities. By strategically directing support to sectors integral to regional identity and growth, this initiative not only supports businesses but also contributes to building a robust and diversified economy capable of withstanding future challenges and seizing emerging opportunities within and beyond the maritime sectors.