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______________________________________________________________________________Stewart McKelveyDoing Business in Atlantic Canadageographic location (i.e., urban or non-urban area), and capital costs of the project. Integration with othergovernment programs is permissible.• Technology Adoption and Commercialization Program (“TAC”)The TAC program is financial assistance for manufacturers, processors and selected services firms insupport of technological innovation and pre-commercial product development. TAC is intended toencourage the adoption of improved technologies and processes by offsetting some of the direct costsassociated with identifying and securing such technologies and processes. It provides financial assistanceof up to 40% of eligible costs, to a maximum of $15,000.• Trade Assistance ProgramThis program is intended to introduce New Brunswick companies to exporting, and to assist in thedevelopment of "new" export markets outside of Atlantic Canada. Priority emphasis is on sectors with thegreatest potential to contribute to the New Brunswick economy. A maximum contribution of $5,000 perproject is provided for, with a maximum assistance allowed per company of $15,000.• Workforce Expansion ProgramThis program provides financial assistance to eligible employers in order to stimulate the creation of longtermemployment opportunities for unemployed individuals. The program also aims at encouraging thehiring of the province's post-secondary graduates. Funding is on the basis of a wage subsidy. Thepercentage of wage reimbursement varies from 50% to 70% of the hourly wage to a maximumreimbursement of $8.00 per hour.• Financial Assistance to Industry ProgramProvides financial assistance towards the establishment, expansion, or maintenance of new or existingmanufacturing or processing industries, selected commercial service firms (business to business with focuson export activity or import displacement), tourism operations (consistent with the tourism strategy), andinformation technology companies (consistent with the information technology strategy). Financialassistance may be provided in the form of a loan guarantee or direct loan.• Energy CostsNB Power offers very attractive electricity rates for commercial and industrial customers. Additionally, NBPower provides a “Declining Discount Firm Rate” for new facilities with firm load of at least 5000KW whichresults in a 50% reduction in the demand charge for a period of one year. The discount decreases to zero inyear six.• Business Taxation• Small Business Investor Tax CreditThis credit offers a 30% non-refundable personal income tax credit of up to $75,000 per year oneligible investments by New Brunswickers.• Research and Development Tax CreditNew Brunswick’s 15% R&D tax credit is fully refundable, meaning that the credit benefits NewBrunswick corporations even if the corporation does not have provincial tax owing. The refundamount is equal to the amount of credit in excess of tax otherwise payable under the NewBrunswick Income Tax Act. The credit does not have to be carried forward or back because it isfully refundable.• Provincial Sales Tax RebateBecause New Brunswick has combined its provincial sales tax rate with the federal rate, the entire13% sales tax on business inputs and purchases is a refundable tax credit for most businesses.Page 89
______________________________________________________________________________Stewart McKelveyDoing Business in Atlantic Canada• Film Tax CreditIn order to encourage the training and hiring of New Brunswick film personnel, the provinceprovides a Film Tax Credit equal to a maximum of 40% of eligible salaries paid to New Brunswickresidents. The value of this credit may also be included as part of the calculation of a productioncompany's equity in a production.• Film Production IncentivesIn addition to the Film Tax Credit noted above, the province funds a number of other programs andincentives aimed at supporting the New Brunswick film industry, through its New Brunswick Film agency.These include the following:• Development Loan ProgramThis program provides non-interest-bearing loans to eligible film production companies in order toassist project development.• Equity InvestmentsIn order to support New Brunswick-based production, New Brunswick Film may provide equityinvestment in projects where the potential of recoupment and profits are sufficiently high, andwhere there is potential for significant benefit to the province's film industry.There are a number of other programs available, such as industry-specific assistance for agricultural,fisheries and aquaculture operations. For further information on New Brunswick’s investment programs andincentives, contact:Business New BrunswickCentennial Building670 King StreetFredericton, New BrunswickE3B 1G1CanadaTel: 506-453-3707Fax: 506-453-3993E-mail: investnb@gnb.caWeb: http://www.gnb.ca/0398/index-e.aspPrince Edward Island• New Business Investment DivisionThe Business Investment Division is responsible for attracting off Island investment to Prince Edward Island.The current priority sectors for investment recruitment are the sectors of Food, Aerospace, Manufacturing,IT, Film and New Media and BioScience.Prince Edward Island Business Development recognizes that there is always risk in the development orexpansion of a business. It also recognizes that it is sometimes the venture that promises the greatestreturn to the province that involves the greatest amount of risk. In order to minimize the potential risks,Prince Edward Island Business Development has developed a portfolio of financial assistance programswhich are briefly described below:Page 90
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DOING BUSINESS IN ATLANTIC CANADA
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CHAPTER 1INTRODUCTION
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CHAPTER 2FORMS OF BUSINESS ORGANIZA
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CHAPTER 7PROPERTY LAW
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Page 71 and 72: CHAPTER 11PRIVACY LAW
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Page 87 and 88: CHAPTER 13ENVIRONMENTAL LAW
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Page 101 and 102: CHAPTER 15ABORIGINAL LAW
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Page 107 and 108: CHAPTER 16MUNICIPAL LAW
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Page 125: OUR OFFICE ADDRESSESNEW BRUNSWICKFR
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