Funding Amount
Up to 25% of eligible salaries and wages
Funding Limits
1 year of eligible labour expenses
Program Contact Details
innovation@gov.pe.ca
1-800-563-3734
Industry
Bioscience, Aerospace and Defense, Advanced Manufacturing and Processing, Renewable Energy, Clean Technology, Information and Communications Technology, Creative and Cultural Industries
What is this funding for?
Tax credit for development and commercialization in Prince Edward Island (PEI)
Program Description
The PEI Labour Rebate (PLR) supports the growth of Island businesses through a refundable labour rebate on incremental job creation. Employment growth must be linked to the development, expansion and/or commercialization of new products, processes, and services that will be sold primarily beyond the borders of PEI.
Steps to Apply
1. Consult with an Innovation PEI Business Development Officer for guidance on project suitability and the application process
2. Prepare detailed business information and supporting documents, including business history, financial statements (for existing businesses), a business plan (for new businesses), project description, economic benefits, cost estimates with quotations, funding sources, market position, and a list of shareholders and key management personnel
3. Complete the application form with all required information
4. Submit the completed application to Innovation PEI before making any financial or legal commitments on the project
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