No Fixed Amount
Type of Program:
The Rental Incentive Assistance contributes to rental costs for Prince Edward Island companies to establish a new business or to expand existing production capabilities. Assistance may be as a contribution towards the cost of leasing additional space in any community in the province, or competitive rates and terms for leased space in a PEI business park (500-10,000 square feet).
Comments on Funding:
Funding is a maximum one-year rental subsidy up to $6.00 per square foot (excluding utilities, taxes, inside maintenance, etc.), payable on a monthly basis.
Lease space may be available in an Innovation PEI owned facility: Lease terms up to five (5) years; base rate is $6.00 per square foot (excluding utilities, taxes, inside maintenance, etc.)
When It Ends:
The applicant must:
Retail and consumer services businesses are not eligible for assistance through this service.
submit the completed application form before any financial or legal commitment is made on the project,
accept the letter of offer forwarded to him which shall create a contract between Innovation PEI and the applicant
The applicant must submit: