Prince Edward Island is serious about attracting additional companies
to our Health IT cluster.
Our business environment is competitive and we offer a number of incentives
that put us ahead of the pack. In 2008, KPMG ranked Prince Edward Island as one
of the most competitive locations for doing business, ranking it 4th in North America
for Advanced Software Development.
Summerside is the lowest commercially taxed city in the Province
Federal corporate tax rate 19.5%
Federal corporate tax rate, small business 11%
Summerside’s office rates provide a 15-25% savings over major urban centres
in Canada and the United States
Provincial corporate tax rate - Small Business as of April 2009 – 2.1% Manufacturing
and Processing 16%
35% scientific research and investment tax credit
Summerside boasts the cheapest rates for water and sewer charges for a
community of its size in all of Atlantic Canada
Finanical Assistance Programs
Innovation and Development Labour Rebate
Specialized Labor Tax Rebate
Atlantic Canada Opportunities Agency – Business Development Program
Atlantic Canada Opportunities Agency –Atlantic Innovation Fund (AIF)
Scientific Research and Experimental Development (SR & ED)
Province – Low Interest Loans
Click here for details on these programs.
Here's an example of how our tailored incentive packages work:
Number of Employees
Estimated Payroll (Est Avg payroll of $50,000)
Labour Rebate
ACOA BDP (*repayable contribution)
Total Rebate and Repayable Contribution
|
50
$2,500,000
$937,500
$350,000
$1,287,500 |
Summary of Benefits – First Year Operation
Number of Employees
Labour Savings – 20% cost savings
Office Savings – 30% cost savings (150 sq. ft./employee)
Financial Incentives – Labour Rebate
Total Cost Savings
|
50
$500,000
$45,000
$937,500
$1,482,500 |
Contact us for more information.
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