Business Attraction Fund
The Business Attraction Fund provides for large-scale, strategic investments in business ventures and infrastructure for the purpose of attracting business to Newfoundland and Labrador. Through this fund, the Department of Business can provide loans and equity investments to companies interested in establishing operations and conducting business in the province.
Business Attraction Fund Guidelines (PDF)
Development Fund
The Development Fund supports the growth of the province's industry by facilitating opportunities to build capacity, enhance competitiveness, attract national and international investment and industrial benefits, and bring new expertise and business opportunities to Newfoundland and Labrador.
The province's firms are active in research and development and have a wide range of products and services, including manufacturing and assembly of aircraft components, MRO, navigation and communications, systems integration, and flight training. The program is available to established companies conducting related activity in Newfoundland and Labrador.
Development Fund - Guidelines and Eligibility Criteria (PDF)
Oil & Gas Manufacturing and Services Export Development Fund
The Oil & Gas Manufacturing and Services Export Development Fund is designed to support strategic investments in new business opportunities for large-scale, export-based petroleum fabrication, manufacturing and service provision.
The Fund provides for increased export capability and technology transfer, while also helping Newfoundland and Labrador's oil and gas supply and service sector to expand its reach and take advantage of opportunities beyond local industrial projects.
Economic Diversification and Growth Enterprises (EDGE)
Our EDGE Program provides a competitive edge that makes Newfoundland and Labrador one of the most attractive locations for business investment in North America. Tax incentives are provided to EDGE designated companies for a period of 10 or 15 years, followed by a five year period of partial rebates. Depending on the geographic location of the business activity in the province, you may be eligible for a:
- 100% rebate on provincial corporate income tax;
- 100% rebate on payroll (health and post-secondary education) tax;
- 50% rebate on federal corporate income tax; and
- 100% rebate on municipal property and/or business taxes in participating municipalities.
Available Crown Land
Unserviced Crown land can be made available to companies that receive the EDGE designation. Under the EDGE program, companies can purchase unserviced Crown land required to implement their business plan for $1 (CAD).EDGE Criteria
The EDGE program is available to a new business enterprise or an existing business looking to expand operations in the province. In order to qualify for the EDGE program, a company must meet the following criteria:
- create and maintain 10 new permanent jobs in Newfoundland and Labrador;
- make a minimum capital investment of $300,000 or have incremental annual sales of $500,000;
- the EDGE incentives would not give a direct competitive advantage over existing businesses in the province;
- the new business activity would provide substantial economic benefit to the province; and
- the business activity would not occur in the absence of the EDGE incentives.
Tax Incentives
The Provincial Government offers a host of tax incentives aimed at assisting Newfoundland and Labrador-based businesses to grow and succeed, and attracting national and global leaders to expand their operations to the province.
The following programs are available:
- Direct Equity Tax Credit
- Manufacturing and Processing Profits Tax Credit
- Small Business Tax Credit
- Scientific Research and Experimental Development Tax Credit
- Film and Video Tax Credit
- Labour-Sponsored Venture Capital Tax Credit
For more information about these programs, Click Here.