PEI Labour Rebate
no fixed amount
Rebate
Description:
The PEI Labour Rebate (PLR) supports the growth of Island businesses through 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:
Continuous Intake
Eligibility:
Applicants must be:
1. a business must be located in Prince Edward Island
2. be registered to conduct business and actively operating in Prince Edward Island;
3. manufactures, processes, or develops goods or services primarily for export;
operates within one of these strategic sectors:
a. bioscience
b. aerospace and defence
c. advanced manufacturing and processing
d. renewable energy and clean technology
e. information and communications technology
f. creative and cultural industries
g. first-of-its-kind exportable goods or services in other h. sectors may be considered.
Application Steps:
Applicants must apply online. Applicants are encouraged potential applicants to consult with an Innovation PEI Business Development Officer for guidance on the suitability of the project and the application process. If the project is not a good candidate for PEI Labour Rebate, the Business Development Officer may recommend alternative funding programs that may be available.
An application must be submitted before any financial or legal commitment is made on the project.
Documentation Needed:
Applicants must submit:
1. detailed business information and supporting documents including:
a. outline the history and provide a description of the business;
b. existing businesses will need detailed Financial Statements for the previous two years;
c. new businesses will need a completed business plan;
d. description of the proposed project or activity in relation to the products and/or services delivered by the business;
e. detailed description of the economic benefits to the organization and to Prince Edward Island;
f. detailed information on the estimated costs of the proposed project or activity (cost estimates should be supported by written quotations);
g. source of funds for the project (for example, lending institutions, banks, government loans and/or grants);
h. explanation of the business’s current market position and projected market, outlining any increases in market share; and
i. a list of all shareholders and key management personnel.
Other Things to Note:
About the author
Maurice
