PEI Labour Rebate (PLR)
no fixed amount
Rebate
Description:
The PEI Labour Rebate (PLR) is 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.
Comments on Funding:
The rebate is 25% of eligible salaries and wages.
Continuous Intake
Eligibility:
Applicants must:
1. be companies that have a permanent establishment in PEI,
2. operate within one of these strategic sectors: bioscience, aerospace and defence, advanced manufacturing and processing, renewable energy and clean technology, information and communications technology, creative and cultural industries; first-of-its-kind exportable goods or services in other sectors may be considered,
3. pay salaries and wages to PEI residents for incremental, full time positions (1850 hours), and each position must have a gross wage of at least $35,000 per annum. Any individuals maintaining ownership in the company are not eligible.
4. propose a project that provides economic benefit to the province.
5. manufacture, process, or develop goods or services primarily for export, 6. not have a defaulted outstanding debt obligation on file in the Province’s Central Default Registry.
Application Steps:
Applicants:
1. are encouraged to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process,
2. must submit the online application form before any financial or legal commitment is made on the project,
3. accept the letter of offer forwarded to them which shall create a contract between Innovation PEI and the applicant.
Documentation Needed:
Applicants must submit:
1. the online application form,
2. a description of the business and an outline of its history,
3. Financial Statements for the previous two years, if existing business, 4. a completed business plan, if new businesses, 5. description of the proposed project or activity in relation to the products and/or services delivered by the business,
6. detailed description of the economic benefits to the organization and to Prince Edward Island,
7. detailed information on the estimated costs of the proposed project or activity (cost estimates should be supported by written quotations),
8. source of funds for the project (for example, lending institutions, banks, government loans and/or grants),
9. explanation of the business’s current market position and projected market, outlining any increases in market share,
10. a list of all shareholders and key management personnel.
Other Things to Note:
No other details available.
About the author
Maurice
