Minister of Development and Technology Michael Currie is pleased to announce the creation of 171 jobs since the implementation of the Government of Prince Edward Island’s (PEI) new Progressive Tax Rebate Program in Spring 2005. The four measures comprising the Progressive Tax Rebate Program are designed to stimulate investment and business growth in PEI.
“It’s great to see Island companies putting the Progressive Tax Rebate Program to such good use,“ said Minister Currie. “We are pleased that such a high number of jobs have been created in such a short amount of time. The introduction of these new tax measures has led us in a new direction of business development in PEI, which seems to be working well.”
The Progressive Tax Rebate Program is available to companies in the aerospace; bioscience; interactive, information and communications technology; renewable energy; financial services and export-focussed manufacturing and processing industries. By focussing on key industrial sectors, the program creates synergies and promotes the development of well-defined educational supports.
The tax credits are available to companies and individuals who have obtained pre-approval. Prince Edward Island Business Development and Technology PEI are responsible for issuing approvals.
The Tax Rebate Program promotes the development of intellectual property and the production of innovative products and services for export to the world; assists firms to increase productivity and competitiveness; encourages Islanders to invest in Island companies; and helps attract new expertise to accelerate the Island’s participation in emerging, global opportunities.
For more information about the Progressive Tax Rebate Program, please visit: www.gov.pe.ca/development/ptrp/index.php3.
PEI Business Development Inc. and Technology PEI work with businesses in Prince Edward Island to strengthen and expand the provincial economy though business development. Adding value and generating wealth, PEI Business Development and Technology PEI offer a diverse range of programs and services to Island-based businesses.