| Programs |
Description |
Contact |
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Business Attraction Fund
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Financial assistance in the forms of equity and loans, as well as a $ 3 million allocation for non-repayable contributions in support of start up and business expansion from large scale businesses. |
Department of Business
1-709-729-3254
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Aerospace and Defence Development Fund (ADDF)
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Non-repayable contribution up to 50% of total eligible costs (or up to 75% if outside Northeast Avalon region) on projects that support capacity building in the Aerospace and Defence sector.
Minimum total project investment $1.0M. |
Department of Business
1-709-729-3254
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Oil and Gas Manufacturing and Services Export Development Fund (OGEDF)
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Non-repayable contribution up to 50% of total eligible costs (or up to 75% if outside Northeast Avalon region) on projects that have advanced technology transfer potential that enhance oil and gas related export capability , support export-related commercialization, expand export market opportunities and create economic growth and employment in the Province's oil and gas supply and service industry.
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Department of Business
1-709-729-3254
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Economic Diversification and Growth Enterprises (EDGE)
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Major tax incentives and benefits offered to new and existing businesses interested in expanding in the Province.
- 100 percent rebate on provincial corporate income tax and the provincial and payroll tax
- 50 percent rebate on federal corporate income tax
- further 5 year period of partial rebate on the provincial and federal taxes, declining by 20 percent
- 100 percent rebate on municipal property and/or municipal business taxes
Access to unserviced Crown land for $1 dollar. |
Department of Innovation, Trade and Rural Development
1-800-563-2299
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Business and Market Development Program
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Provides up to $25,000 non-repayable grant to new entrepreneurs and expanding small businesses to help them acquire the necessary expertise to pursue new business ideas and new markets for their products and services.
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Department of Innovation, Trade and Rural Development
1-800-563-2299
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| Small and Medium-sized Enterprise Fund |
Provides term loans (up to $500,000 per project) and equity investments ($500,000 per project) to small and medium-sized businesses in strategic growth sectors: manufacturing, information technology, aquaculture, bio-technology, marine services, agrifoods and tourism.
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Department of Innovation, Trade and Rural Development
1-800-563-2299
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Commercialization Program
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Provides a direct equity investment or a conditionally repayable contribution up to 75 percent to total project costs to a maximum value of $ 500,000 per project.
Project must be based in Newfoundland and Labrador and be innovative in a post-research stage of product and market development leading to full commercialization.
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Department of Innovation, Trade and Rural Development
1-800-563-2299
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Workplace Skills Enhancement Program
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Helps small and medium-sized enterprises acquire and /or up-skill employees to enhance skills, productivity and global competitiveness.
Assistance is provided through wage subsidy for new employees or non-repayable contribution for existing employees.
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Department of Innovation, Trade and Rural Development
1-800-563-2299
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Business Networks Program
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Financial assistance is available to create new business networks or for existing business networks to participate in activities related to export development.
Assistance up to 50 percent of eligible costs to a maximum of $50,000.
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Department of Innovation, Trade and Rural Development
1-800-563-2299
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Fish Plant Workers Employment Assistance Program
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Provides new entrepreneurs and expanding small business with funding to employ fish plant workers negatively affected by the closure of a fish plant.
Up to one year, wage subsidy of 50% of gross wages to a maximum of $10,000 each incremental job. |
Department of Innovation, Trade and Rural Development
1-800-563-2299
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Wholesale Marketing Program
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Assists craft, gift and apparel producers with developing wholesale market for their products including active participation in the Wholesale Shows and Wholesale Buyers Guide. |
Department of Innovation, Trade and Rural Development
1-800-563-2299
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Crafts of Character Branding Program
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Assists craft, gift and apparel producers to promote their products in the marketplace through product identification and point-of-sales materials, online, advertising and promotional activities undertaken by the department.
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Department of Innovation, Trade and Rural Development
1-800-563-2299
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Craft Industry Development Program
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Provides a non-repayable contribution to craft, gift and apparel producers and retailers, economic development organizations, and not-for-profit organizations for activities related to professional skill development, design and product development, market development, cooperative and sector development initiatives. |
Department of Innovation, Trade and Rural Development
1-800-563-2299
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Immigrant Entrepreneur - Nominee Program
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Intended for prospective immigrants who propose to establish a new business or who propose to purchase all or part of an existing business that has supportable prospects for expansion in Newfoundland and Labrador and who intend to be self-employed in that business. |
Department of Human Resources and Labour Employment
1-709-729-5847
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Direct Equity Tax Credit
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Provides investors with a tax credit for their direct investment in eligible local businesses.
Program is targeted to small businesses engaged in grown areas of economy: technology, research and development, aquaculture, forestry and agrifoods, manufacturing and processing, export/import replacement businesses, tourism and cultural industries.
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Department of Finance
1-709-729-2277
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Manufacturing and Processing Profits Tax Credit
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Applies to corporation that carry out manufacturing and processing from a permanent establishments located in Newfoundland and Labrador.
The credit allows deduction from Newfoundland corporate income tax of 9% on Taxable Canadian Manufacturing and Processing Profits. |
Canada Revenue Agency
1-709-729-2128
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Small Business Tax Credit
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Offers reduced tax rate of 5% of active business income to small businesses. The reduced tax rate for small business is available to corporations that qualify for the federal Small Business Deduction (SBD).
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Canada Revenue Agency
1-709-729-3166
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