Recent Newsletters

City of Summerside Economic Development



Aerospace

Summerside’s aerospace industry continues to reach new heights, contributing to Prince Edward Island’s diverse economy. Some of the best-known names in aerospace have chosen Prince Edward Island. Honeywell Engines Systems and Services, Airbus – Vector Aerospace, MDS Coating Technologies Corporation, Testori, TubeFab Inc., and Tronos Canada Inc. all have operations in Summerside.
 
Prince Edward Island provides a very competitive business case with savings between 5–20% depending on industry segment; access to a ready, willing, and able workforce; and some very specific and unique aerospace infrastructure (airport, hangars, and services). Home for more than 20 years to Honeywell
and Airbus centres for Maintenance, Repair and Overhaul (MRO) operations.
 
Slemon Park is the provincial focal point for the aerospace industry in the Province of Prince Edward Island. Slemon Park is home to 20% of the manufacturing industry in the province. With a future focus on further development of the Maintenance, Repair and Overhaul (MRO), Tier 2&3 manufacturing, and aviation-related training industry subsectors.
 
A Tax Rebate Incentive Program for all eligible aviation-related companies provides a full rebate annually on all corporate income tax paid to the province for operations conducted at Slemon Park. There is also a full rebate annually of all real property tax attributable to ownership or rental of facilities at Slemon Park in Summerside.
 
Summerside Aerospace is still continuing to source opportunities.
Let’s be partners!
 
Summerside’s Slemon Park is uniquely positioned to facilitate turnkey solutions for Maintenance, Repair and Overhaul (MRO) — component, airframe, engine accessories, etc.; propeller/rotor blade shop; avionics as a primary target, in all facets of aerospace including the fixed-wing and helicopter aviation sector.



ICT

Summerside’s information communications technology (ICT) sector has become a major contributor to the strong economic growth taking place in Summerside and Prince Edward Island. In recent years, Summerside’s ICT sector has seen an emerging focus on e-health software development, client service, and support and testing laboratories to foster advancements in the industry.

But we are still looking to grow the industry, specifically:

–  Small to medium-sized niche firms with a focus on development or support
–  Companies seeking a prime test-bed for products as part of their R&D
–  Firms seeking an environment where like-minded companies can collaborate and innovate
–  Companies with smaller workforce requirements, but who will benefit from the unparalleled loyalty and work ethic of Islanders
–  Companies seeking a state-of-the-art smart building developed with green principles and the infrastructure required by the IT industry
–  Firms that will realize meaningful benefits from the aggressive incentives and competitive costs offered in Prince Edward Island.

KPMG continues to identify Prince Edward Island as one of the most competitive locations for doing business, and is recognized as one of the lowest cost location in North America.
 
The information communication technology sector has contributed significantly to the Island economy and is responsible for significant job growth in recent years. 
GDP contribution increased over 60% faster than overall GDP on Prince Edward Island from 2009 – 2013 and the sector now contributes an estimated $178.6 million worth of direct GDP or about 3.5 % of total provincial GDP.






Summerside Green – Creating business Opportunities through Innovation
 

Eco City – Summerside is widely recognized as a leader and early adopter of green technologies. Our unique municipally owned infrastructure, combined with a business environment that encourages innovation, distinguishes us from other communities in Atlantic Canada.
 
The City of Summerside is looking ahead to more innovation in the green technology sector by building on the infrastructure already developed. Across North America, communities look to Summerside as a best practice model for leveraging sustainable green development as an integral part of an economic development strategy.
 
The variety of potential applications that can be developed and tested in a real-life environment in Summerside are endless. A few that resonate with existing priorities and key investments are:
  • Electric Storage and Grid Integration
  • Electric Vehicles (including Bus and Passenger Vehicle)
  • Electric Car Charger Solutions with Battery Storage
  • Security and Surveillance
  • Appliance Control
  • Residential Environmental Controls
  • Smart Home Innovation
  • Medical Home Care Solutions
  • Bio Fuel from Waste
  • Advanced IT Development
  • Interoperability for Big Data





A Vehicle that is fuelling Growth in Summerside – The Start Up Visa Program – Helping to support growth and expansion in Summerside

Canada’s Start-up Visa (SUV) Program is intended to attract foreign entrepreneurs who wish to establish new, high-growth businesses in Canada and specifically open doors for Summerside’s economy. The Start-up Visa Program focusses on immigrant entrepreneurs with the experience and opportunity to create innovative enterprise in Canada and specifically Summerside.
 
To be eligible for the Start-Up VISA would be applicants must apply and be accepted to the program through an incubator or accelerator and Summerside is home to one of the fastest growing incubators on PEI.
 
Some of the Eligibility Criteria:
  • Ownership of a business that is generating revenue with a product or service that is scalable, sustainable, and has a global marketing in the sectors of information technology, business services, bioscience, or renewable energy.
  • Business model must be appropriate for this jurisdiction and must not negatively impact a business in the local marketplace.
  • Submission of a business plan with financial and owners personal net worth statement.
  • The business is financially self-sustaining or open to Venture Capital investment.
  • Applicant is willing to live and work in Prince Edward Island and work in designated facilities managed by launchPad PEI for the first year of operation in the province.
  • Applicants will allow LaunchPad PEI to conduct a due diligence process on your background, education and financial capabilities.
  • Applicant is able to fund family obligations for a one year period of living in Canada (settlement funds). SUV Program Criteria.
  • Applicant is able to meet or exceed minimum language requirements, in either English or French. SUV Program Criteria.
  • Meet business ownership requirements. SUV Program Criteria.

If you are an entrepreneur and are interested in joining LaunchPad PEI through the SUV program, please contact the Office of Economic Development or email: inquiry@launchpadpei.com or visit http://launchpadpei.com/
to learn more about this innovative program.