Atlantic Canada Business Grants

Rebate

Economic Diversification and Growth Enterprises (EDGE)

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Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Economic Diversification and Growth Enterprises (EDGE) Program provides incentives to encourage significant new business investment in the province to help diversify the economy and stimulate new private sector job creation, particularly in rural areas.

Comments on Funding:

The following incentives and benefits may apply:

  1. 1
    100% rebate on provincial corporate income tax and the provincial health and post-secondary education (payroll) tax. The tax “holiday” for eligible companies is 10 years within the Northeast Avalon area and 15 years outside the Northeast Avalon area, as defined in the Economic Diversification & Growth Enterprises Act,
  2. 2
    50% rebate on federal corporate income tax for the periods referenced above,
  3. 3
    A further five-year phase-out period of partial rebates on the provincial and federal taxes referenced above, declining by 20% in each year of the phase-out period,
  4. 4
    100% rebate on municipal property and/or municipal business taxes for 10 or 15 years, followed by a five-year phase-out of such rebates, where individual municipalities elect to participate in the EDGE program,
  5. 5
    access to unserved Crown land for $1.00 where such land is required to implement the company’s business plan.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be new or existing businesses,
  • have the potential to create and maintain at least 10 new permanent jobs in Newfoundland and Labrador,
  • be prepared to make a minimum capital investment of at least $300,000, or generate incremental sales of at least $500,000 annually,
  • not be able to establish or expand in the province in the absence of the EDGE incentives, in preference to another location or at the time when it is proposed to do so,
  • have a substantial net economic benefit to the province,
  • not receive a direct competitive advantage over other businesses already established in the province, if provided EDGE status.

Application Steps:

1

Applicants must submit a signed, completed application with supporting documentation to the office of Department of Industry, Energy and Technology (IET) in their area.

Documentation Needed: 

​Applicant must submit:

  • a detailed business plan,
  • Project Summary & Benefits, including project description, project budget, ownership and management information, competition and marketing information, 
  • financial statements for the current and previous two to five years of operation including notes to the financial statements and the most recent interim statements. If a proprietorship, include recent and previous two to five years personal income tax returns including CRA T2125 form and Notice of Assessment., if existing businesses,
  • Income Statement and Opening Balance Sheet, if new businesses,
  • a Cash Flow Statement,
  • pro forma statements for the next two to five years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts,
  • copy of Articles of Incorporation,
  • personal Net Worth Statement for all shareholders and key management personnel (loans/equity investments only),
  • other information that may be relevant to their operation.

​For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.

Program Contact:

​Economic Development and Growth Enterprise Program (EDGE)

​Application for Assistance​​​

Payroll Rebate

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Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Payroll rebate is a performance-based, financial incentive offered to qualified companies expanding or locating in Nova Scotia. The Payroll Rebate offers a return on a company’s eligible gross payroll, helping to save on eligible payroll expenses. This means that for every dollar a company spends in salaries and benefits, NSBI rebates back a negotiated percentage. 

Comments on Funding:

Funding is a negotiated percentage of the amount the applicant spends in salaries and benefits.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a company in knowledge-based industries that have a high probability of sustainable growth,
  • be working in one of the three targeted sectors: financial services and insurance, information technology, and defense, security, and aerospace,
  • be profitable,
  • have a strong management team and a proven track record for success,
  • also agree to create at least 20 full-time positions in Nova Scotia, in most cases.

Application Steps:

No specific steps have been identified.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Payroll Rebate | Nova Scotia Business Inc

Business Energy Rebates

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Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

Business energy rebates support businesses, non-profits and institutional organizations, as well as industrial/agricultural facilities in choosing high-efficiency products.

Comments on Funding:

There are direct incentives for each eligible product, ranging from $3 (decorative lamp) to $600 (Air Source HP - Small capacity heat pump). 

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be Prince Edward Island businesses, non-profits and institutional organizations, as well as industrial/agricultural facilities, 
  • choose energy-efficiency products.

Application Steps:

1

visit their local wholesaler or work with their contractor to identify which upgrades to make,

2

contact efficiencyPEI for pre-approval, if rebate amount is to be over $5,000, 

3

collect a detailed sales receipt outlining where the products were purchased and showing the model numbers for eligible products,

4

fill out the registration form,

5

drop off or mail their registration form and original copies of paid/dated receipt(s) to efficiencyPEI at one of the addresses listed below or any Access PEI.

Documentation Needed: 

The applicant must submit:

  •  the registration form.
  • original copies of paid/dated receipt(s). 

Other Things to Note:

ENERGY STAR® is the mark of high-efficiency products in Canada. The familiar symbol makes it easy to identify the bet energy performers on the market. These products are tested and certified – they meet strict technical specifications for energy performance. Typically, an ENERGY STAR certified product is in the top 15 to 30 percent of its class for energy performance.

Program Contact:

Business Energy Rebates

Solar Electric Rebate Program

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Amount:

$10,000.00

Type of Program:

Rebate

Description:

The Solar Electric Rebate Program makes solar power more affordable than ever before by providing financial incentive for Island homeowners, farms and businesses to install solar PV panels.

Comments on Funding:

Incentives for Businesses and farms are $350/kilowatt installed, up to 40% of installed costs, to a maximum of $10,000.
Incentives for Homes are $1,000/kilowatt installed, up to 40% of installed costs, to a maximum of $10,000. 

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be the legal property owner, business owner and/or a bona-fide farmer,
  • own an eligible building on Prince Edward Island including: a residential property, no more than three stories high, with a footprint smaller than 600 m² (6458 ft²), or commercial building with an operating business, or a farm building owned and operated year round by a bona-fide farmer, a single-family home, detached, side-by-side, row house or apartment building, a manufactured or mobile home with have a permanent electrical utility connection,
  • ensure that a solar PV system is eligible for net metering from his electric utility - Maritime Electric or the City of Summerside Electric Utility. The system must meet all applicable regulations under the Canadian Electrical Code and any additional provincial laws and regulations and must be installed by an efficiencyPEI Network of Excellence contractor.

Application Steps:

1

Applicants must confirm eligibility,

2

Applicants must select an approved efficiencyPEI solar PV installer from the Network of Excellence,

3

Applicants must complete the application form and send it to efficiencyPEI with his most recent electric bill,

4

Applicants must wait for the letter of acceptance before beginning any work,

5

Applicants must submit his paid receipts to efficiencyPEI, once the work is complete.

Documentation Needed: 

The applicant must submit:

  • the application form.
  • the most recent electric bill,
  • paid receipts. 

Other Things to Note:

Applicants can receive financing for the up-front costs of solar photovoltaic equipment through the Energy Efficiency Loan Program.

Program Contact:

Solar Electric Rebate Program

Equity Investors Incentive

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Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Equity Investors Incentive provides new and expanding businesses in Prince Edward Island with a tool to encourage and attract private sector investment. The program provides a non-repayable incentive to investors to encourage investment in an approved Prince Edward Island-based investee business by increasing the return-on investment to investors.  

Comments on Funding:

Funding is in the form of a direct rebate to investors (individuals or companies) and is calculated at up to 20 percent of the purchase price of the equity investment in the investee company. The maximum investors’ rebate for all eligible investors will not exceed $200,000 per approved investee company.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

An eligible investee company must:

  • be a taxable, private Canadian corporation,
  • be registered to do business in Prince Edward Island,
  • have its head office and its primary business operations in Prince Edward Island,
  • have been in operation in PEI for a minimum of one year,
  • be a provider of exportable goods or services in one of the following strategic sectors: bioscience, aerospace and defense, 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 in other sectors may be considered),
  • pay at least 75% of its payroll to employees residing in Prince Edward Island and must have ewer than 50 employees,
  • have assets less than $10 million,
  • ensure compliance with securities legislation,
  • have a well-developed business plan and demonstrate appropriate use of funds raised to support expansion and/or ongoing operations in Prince Edward Island,
  • not have any defaulted outstanding debt obligation on file in the Government of Prince Edward Island Central Default Registry.

Eligible investors include: any Canadian person, Canadian-controlled private corporation or other Canadian-controlled company that is at arm’s length to the investee company as defined under Section 251 of the Income Tax Act (Government of Canada). 

Application Steps:

Applicants: 

1

must submit the online application form, 

2

must accept the letter of offer forwarded to them which shall create a contract between Innovation PEI and the applicants. 

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Equity Investor Incentive Guidelines will be available soon upon approval.  

Program Contact:

Equity Investors Incentive