Biggins Lacy Shapiro & Company, LLC

New Brunswick Economic Development Incentive and Financing Programs

DIRECT FINANCIAL ASSISTANCE

Payroll rebates:  Payroll rebates may be available to companies for workforce expansion. Rebates are paid on a percentage of incremental salaries that meets a certain threshold. Rebates would be paid only after annual claims are made.

Non-repayable contributions:  Non-repayable contributions, when appropriate, may be provided for capital projects that have economic benefits for both the company and the Province of New Brunswick. In some instances, the contributions are provided via a forgivable loan.

Canada-New Brunswick Job Grant: Eligible employers may apply for up to $10,000 for each individual worker to assist with training costs. Employers that receive funding under the Canada-New Brunswick Job Grant must contribute a minimum of one-third of the eligible training costs. With the maximum government contribution of $10,000, this means that up to $15,000 is available, per person, for eligible training costs.

TAX INCENTIVES

Scientific Research and Experimental Development Tax Credit:  Tax credit for R&D activities in New Brunswick. The refundable credit of 15% of eligible expenditures made with respect to scientific research and experimental development activities carried out in the province.

Small Business Investor Tax Credit: program designed to promote early stage investment in eligible small businesses. Investors can apply for a non-refundable tax credit for 50% of the amount of investment in a qualified small business, up to a maximum of $125,000 per year. A similar credit for 15% up to a maximum of $75,000 per year is available for investments from a corporation or trust eligible investor in a qualified small business.

Last updated:  May 2019



 
Biggins Lacy Shapiro & Company, LLC
609-924-9775
info@blsstrategies.com