No Fixed Amount
Type of Program:
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:
- 1100% 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,
- 250% rebate on federal corporate income tax for the periods referenced above,
- 3A 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,
- 4100% 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,
- 5access to unserved Crown land for $1.00 where such land is required to implement the company’s business plan.
When It Ends:
The applicant must:
Applicants must submit a signed, completed application with supporting documentation to the office of Department of Industry, Energy and Technology (IET) in their area.
Applicant must submit:
For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.