Prince Edward Island

Prince Edward Island Broadband Fund (PEIBF) for Internet Service Providers

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Prince Edward Island Broadband Fund (PEIBF) provides financial assistance to local Prince Edward Island internet service providers (ISPs) for the installation of infrastructure for enhanced broadband services.

Comments on Funding:

Funding is a contribution of up to a maximum of 50% of the eligible costs of the approved project.
The maximum, total grant contribution from all Government of Prince Edward Island sources cannot exceed 50%. Loans or other repayable contributions are not included within this calculation. Where a project receives any other grant funding from the Government of Prince Edward Island, the contribution from PEIBF may be reduced.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be a local ISP,
be installing broadband infrastructure that will improve internet access to a community, increase service levels and/or improve consumer choice.

Application Steps:

submit his application forms and the proposal description to Innovation PEI via online web form or in signed PDF format via email or hard copy prior to the start of a project,

accept the letter of offer forwarded to them which shall create a contract between Innovation PEI and the applicant, if the case,

provide a financial and status report at each milestone to claim payments.

Documentation Needed:

The applicant must submit:

the completed application form,
a proposal including the project description, coverage and technical deployment details, project implementation, project management, regulatory requirements (any permits, licenses or environmental approvals), financial requirements (Broadband Internet Network Build, Capital Budget Estimate Worksheet, itemized project costs, including costing detail, sources of project funds, explanatory notes to accompany the budget, detailed Financial Statements for the previous two years for existing businesses and complete business plans for new businesses and businesses planning expansions), description of current business model.

For the PEIBF, payments will be claimed at three key milestones: (1) Planning, (2) Construction, and (3) Completion. At each milestone, a financial and status report will be required.

Other Things to Note:

The PEIBF is administered by Innovation PEI on behalf of the Province of Prince Edward Island. Innovation PEI is a crown corporation of the Government of Prince Edward Island reporting to the Department of Economic Growth, Tourism and Culture.

Program Contact:

Broadband Fund for Internet Service Providers

Broadband Fund ISP.pdf

Prince Edward Island Film Production Fund

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The PEI Film Production Fund provides support via a rebate of 32-35% of eligible Prince Edward Island expenditures for work completed in Prince Edward Island. The PEI Film Production Fund supports the development and growth of the private-sector film and television industry in Prince Edward Island.

Comments on Funding:

Funding is a base rebate of 32% of eligible costs for work completed in Prince Edward Island. An increase to the rate is available through the following bonuses:

1
PEI Production Bonus: 1 percentage point for productions by PEI producers, or co-productions where the PEI producer has at least 25% control;
2
Series Production Bonus: 2 percentage points for series productions

When It Ends:

Ongoing

Deadline:

March 31, 2024

Eligibility:

The applicant must:

be Prince Edward Island companies engaged primarily in the film and television production business that demonstrate that their main activity is the creation of productions available for public viewing,
be incorporated in Canada, either federally or provincially,
be in good standing with IPEI (must not have overdue reporting) and the Province of PEI (does not appear in the Central Default Registry),
create new productions and the amount of money spent in Prince Edward Island for the production must be at least $25,000 before HST.

Application Steps:

Applicant must submit:

contact Shannon Pratt by email slpratt@gov.pe.ca(link sends e-mail) or by phone at 902 626-8613, if they wish to apply would like more information,

submit the Fund rebate application and documentation to IPEI, including the actual listing of eligible items that total to the Prince Edward Island Spend when an approved project has completed production and delivery, and final cost and labor reports have been prepared.

Documentation Needed:

The applicant must submit:

the application form,
a financing structure and budget in industry-standard format, and demonstrate that the production is fully financed
documents that demonstrate that all necessary insurance and performance bonds (where required) are in place to protect any investment in the project,
deliverables upon completion of the project,
financial statements for projects with budgets of $200,000 to $500,000, with a Review Engagement Report and third-party audited financial statements for budgets over $500,000; or an uncertified Final Production Cost Report supported by a Statutory Declaration (available electronically on request) for projects with budgets under $200,000,
a Statutory Declaration, sworn to and signed by the Producer to confirm Prince Edward Island residency.
a written evidence of a Commercial License Agreement for the production.

Program Contact:

Prince Edward Island Film Production Fund

prince_edward_island_film_production_fund_guidelines.pdf

Rental Incentive Assistance

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:

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

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

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

Other Things to Note:

No other details available.

Program Contact:

Rental Incentive Assistance

Small Business Investment Grant

Amount:

$3,750.00

Type of Program:

Grants

Description:

The Small Business Investment Grant helps Prince Edward Island’s small businesses improve efficiency and innovation by way of a non-repayable financial contribution toward eligible capital asset costs.

Comments on Funding:

Funding is 15% of the actual eligible cost as determined at the time of the request for reimbursement - resulting in a maximum grant of $3,750.

When It Ends:

Ongoing

Deadline:

March 31, 2023

Eligibility:

The applicant must:

be small businesses operating on Prince Edward Island,
have at least one employee (minimum of 560 hours) or the business is the primary source of income for the applicant,
not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.

An eligible business can only submit one application per year either through this program or Innovation PEI’s Capital Acquisition program. Businesses with an export focus that are eligible to apply to Innovation PEI’s Capital Acquisition Program are encouraged to do so.

Application Steps:

Applicants must submit their completed applications on-line.

One application to this program per fiscal year (April 1, 2022 - March 31, 2023) will be accepted regardless of the amount.

The Company's request for payment must be submitted no later than May 31, 2023.

Documentation Needed:

1
the online application form,
2
business number and date of incorporation (if applicable),
3
business banking information,
4
a complete list of capital assets (either purchased or expected to be purchase between April 1 and March 31) for the project including cost per item,
5
description of the business operations,
6
detailed description of the project and how it will benefit the business.

Other Things to Note:

No other details available.

Program Contact:

Small Business Investment Grant

Strategic Improvement Assistance

Amount:

$20,000

Type of Program:

Grants

Description:

Strategic Improvement Assistance supports Prince Edward Island businesses undertaking strategic activities to become more productive, profitable and competitive.

Comments on Funding:

Strategic Improvement Assistance provides up to 40 per cent of eligible costs to a maximum of $20,000 in assistance per approved project. Up to two applications per business will be accepted within a twelve-month period, totaling to a maximum of $20,000 in assistance. The combined project funding from all non-repayable government sources cannot exceed 75% of eligible costs.

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 defence, 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.

Application Steps:

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

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

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

Other Things to Note:

No other details available.

Program Contact:

Strategic Improvement Assistance