Biggins Lacy Shapiro & Company, LLC

Newfoundland and Labrador Canada Economic Development Incentive and Financing Programs

DIRECT FINANCIAL ASSISTANCE

Investment Attraction Fund:  Provides forgivable loans towards strategic investments in infrastructure support costs, human resource costs or other costs for large-scale businesses and foreign direct investment in the province.  

TAX INCENTIVES 

Scientific Research and Experimental Development Tax Credit:  Tax credit for R&D activities in the province. The refundable credit of 15% of eligible expenditures made with respect to scientific research and experimental development activities carried out in the province.
 
Economic Diversification and Growth Enterprises Program (EDGE):  The EDGE program offers a 10year tax holiday to qualifying companies from provincial corporate income tax and payroll tax, followed by a five year phase-in of these taxes. A 10-year tax holiday from property taxes and/or business tax is also offered by municipalities declaring themselves as EDGE participants. Companies also receive a 50% rebate on federal corporate income tax for EDGE designated companies for 10 years.  An additional five years is available for projects locating outside the North East Avalon area. The program also offers the lease of crown land for a nominal fee and the services of a dedicated government facilitator to new or expanding businesses. 
 
To be designated as an EDGE corporation, the applicant must make a minimum capital investment of $300,000, or have incremental sales of $500,000 annually. The applicant must also create and maintain at least 10 permanent jobs. 

TRAINING INCENTIVES

Canada Newfoundland Labrador 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- Newfoundland Labrador 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.
 
 Updated June 2018



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