Economic Diversification and Growth Enterprise (EDGE) Program
Department of Innovation, Trade and Rural Development
Last Verified:
2006-04-18
The Economic Diversification and Growth Enterprises Program (EDGE) provides a package of incentives to encourage significant new business investment in the province to help diversify our economy and stimulate new private sector job creation, particularly in rural areas.
Eligibility Criteria
A new business or an existing business interested in expanding in the province may apply for EDGE status if it meets the following criteria:
- create and maintain 10 new permanent jobs in the province;
- it is prepared to make a minimum capital investment of $300,000 or generate incremental annual sales of $500,000;
- it would not establish or expand in the province in the absence of the EDGE incentives;
- the EDGE incentives will not give it a direct competitive advantage over other existing businesses in the province; and
- the new business activity will have a substantial net economic benefit to the province.
Summary
Companies approved for EDGE status shall be entitled to the following incentives and benefits:
- a 100% rebate on provincial corporate income tax and the provincial health and post-secondary education (payroll) tax for a period of 10 years if the business is established within the Northeast Avalon area and for 15 years if it is established outside the Northeast Avalon area;
- a 50% rebate on federal corporate income tax for the periods referenced above;
- a further five year period of partial rebates on the provincial and federal taxes referenced above, declining by 20% in each year of this phase-out period;
- a 100% rebate on municipal property and/or municipal business taxes for the periods referenced above, followed by a five year phase-out of such rebates, where individual municipalities elect to participate in the EDGE Program; and
- access to unserviced Crown land for $1.00 where such land is required to implement the company’s business plan.
EDGE Facilitator
Government will appoint a facilitator to help an EDGE corporation obtain permits, licences and other government regulatory requirements to proceed with its business plan.
For information and assistance:
|