• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Atlantic Canada Business Grants

  • Atlantic Canada
    • Grants
    • Loans
    • Wage Subsidies
  • New Brunswick
    • New Brunswick Small Business Guide
      • Starting a Business in New Brunswick
      • Best Business to Start in New Brunswick
      • Businesses for Sale in New Brunswick
      • Register a Business in New Brunswick
      • Incorporating a Business in New Brunswick
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Newfoundland
    • Newfoundland & Labrador Business Guide
      • Start a Business in NL
      • Best Business to Start in NL
      • Businesses for Sale in NL
      • Incorporate a Business in NL
      • Register a Business in NL
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Nova Scotia
    • Nova Scotia Small Business Guide
      • Starting a Business in Nova Scotia
      • Best Business to Start in Nova Scotia
      • Businesses for Sale in Nova Scotia
      • Incorporating a Business in Nova Scotia
      • Register a Business in Nova Scotia
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • PEI
    • PEI Small Business Guide
      • Starting a Business in PEI
      • Best Business to Start in PEI
      • Businesses for Sale PEI
      • Incorporate a Business in PEI
      • Register a Business in PEI
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Contact
  • About

Rental Incentive Assistance

by Maurice | February 6, 2023

Amount:

No Fixed Amount

Type of Program:

Subsidy


Description:

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:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be registered to do business and actively operating in Prince Edward Island,
  • manufacture, process, or provide exportable services in one of the following sectors: aerospace and defense, advanced manufacturing and processing, information and communications technology, bioscience, renewable energy and clean technology, creative and cultural industries, (First-of-its-kind exportable services in other sectors may be considered),
  • propose a project that provides economic benefit to the province,
  • not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

Retail and consumer services businesses are not eligible for assistance through this service.

Application Steps:

Applicant must:

1

is encouraged to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process,

2

must submit the completed application form before any financial or legal commitment is made on the project,

3

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

Documentation Needed: 

The applicant must submit:

  1. 1
    the online application form,
  2. 2
    a description of the business and an outline of its history,
  3. 3
    detailed Financial Statements for the previous two years, if existing business,
  4. 4
    a completed business plan, if a new businesses,
  5. 5
    a description of the proposed project or activity in relation to the products and/or services delivered by the business,
  6. 6
    a detailed description of the economic benefits to the organization and to Prince Edward Island,
  7. 7
    detailed information on the estimated costs of the proposed project or activity,
  8. 8
    source of funds for the project,
  9. 9
    explanation of the business's current market position and projected market, outlining any increases in market share,
  10. 10
    a list of all shareholders and key management personnel.

Other Things to Note:

No other details available.

Program Contact:

Rental Incentive Assistance

Related posts:

Starting a Business in PEI: Step-by-Step Guide for Prince Edward Island Entrepreneurs
Prince Edward Island Small Business: Complete Guide for Entrepreneurs
Incorporating a Business in Prince Edward Island: Step-by-Step Guide for New Entrepreneurs
Registering a Business in PEI: Step-by-Step Guide for Prince Edward Island Entrepreneurs

About Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Posts

  • Nova Scotia Small Business: Complete Guide for Entrepreneurs
  • How to Start a Business in New Brunswick: Step-by-Step Guide for New Entrepreneurs
  • How to Start a Business in Newfoundland and Labrador: Step-by-Step Guide for New Entrepreneurs
  • Starting a Business in PEI: Step-by-Step Guide for Prince Edward Island Entrepreneurs
  • How to Start a Business in Nova Scotia (2023): Step-by-Step Guide for New Entrepreneurs

Recent Comments

  • Toni Mladineo on Clean Technology Loan

Footer

Company

  • About Me
  • Contact

Categories

  • Atlantic Canada
  • New Brunswick
  • Newfoundland & Labrador
  • Nova Scotia
  • Prince Edward Island

© 2023 · Atlantic Canada Business Grants

  • About Me
  • Contact