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2006-11-02 |

Premier announces new tax incentives aimed to bolster growth of bioscience industry in Prince Edward Island

On October 12, 2006, in Charlottetown, PEI Premier Pat Binns announced a comprehensive tax incentive package for the bioscience industry in Prince Edward Island that will encourage existing companies to expand and focus on commercial opportunities in the industry as well as help attract new companies to the province. Under this new tax incentive program, bioscience companies of more than 10 employees and a $750,000 annual payroll are eligible to receive a full rebate on their provincial corporate income taxes for up to 10 years. Premier Binns said money rebated to bioscience companies will be reinvested, helping to create more jobs and opportunities in the sector.

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2006-11-02 |

Premier announces new tax incentives aimed to bolster growth of bioscience industry in Prince Edward Island

On October 12, 2006, in Charlottetown, PEI Premier Pat Binns announced a comprehensive tax incentive package for the bioscience industry in Prince Edward Island that will encourage existing companies to expand and focus on commercial opportunities in the industry as well as help attract new companies to the province. Under this new tax incentive program, bioscience companies of more than 10 employees and a $750,000 annual payroll are eligible to receive a full rebate on their provincial corporate income taxes for up to 10 years. Premier Binns said money rebated to bioscience companies will be reinvested, helping to create more jobs and opportunities in the sector.

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