Federal Financing + Incentives
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Federal Financing + Incentives

Atlantic Canada Opportunities Agency (ACOA) Programs: ACOA provides financing for the development/expansion or modernization of eligible small and medium sized businesses. Financing can also be provided for the development of new markets, improved efficiency, innovation and human resource initiatives. ACOA Cape Breton delivers programs on behalf of the Atlantic Canada Opportunities Agency such as the Business Development Program and the Atlantic Innovation Fund.

 

Atlantic Innovation Fund (AIF): The AIF provides financing to encourage R&D partnerships among private sector firms, universities and colleges, and other research institutions for the development of new or improved products and services.  

 

The Business Development Program (BDP): The BDP can assist with financing for the development/expansion or modernization of a business.  Financing can also be provided for the development or enhanced competitiveness of innovative ideas. This program focuses on small and medium size enterprises and provides interest-free, unsecured loans.

 

Business Development Bank of Canada (BDC): The BDC promotes entrepreneurship by providing highly tailored financing, venture capital and consulting services to entrepreneurs.

 

Export Development Canada (EDC): EDC has developed a number of innovative ways to support foreign buyers of Canadian goods and/or services through loans, guarantees and lines of credit.  EDC also now provides financing support for inbound foreign investment projects.

 

Canadian Commercial Corporation (CCC): The CCC offers two principal services: prime contractor service, and procurement service. With its prime contractor service CCC acts as a prime contractor, signing a contract with a foreign government and, in turn, entering into a contract with a Canadian supplier. When providing its procurement services CCC help a foreign government identify appropriate Canadian vendors and awards a contract that will satisfy foreign government requirements.

 

Federal Tax Credit (FTC): The FTC permits non Canadian-controlled private corporations to earn an Investment Tax Credit (ITC) of 10% of qualified expenditures for capital investment made in new manufacturing and processing assets in Canada.

 

Scientific Research and Experimental Development Tax Credits (SR & ED): The SR&ED Tax Credit permits non Canadian-controlled private corporations to earn an ITC of 20% of qualified expenditures for SR&ED carried out in Canada.

 

Sustainable Development Technology Canada Initiative (SDTC) :The $590M SD Tech Fund is aimed at supporting the late-stage development and pre-commercial demonstration of clean technology solutions: products and processes that contribute to clean air, clean water and clean land that address climate change and improve the productivity and the global competitiveness of the Canadian industry. SDTC does not require any repayments of the financial contributions it provides to funded projects through the SD Tech Fund.

 

Accelerated Capital Cost Allowance for Efficient and Renewable Energy Generation Equipment (Class 43.1): The Accelerated Capital Cost Allowance allows taxpayers an accelerated write-off of capital cost of certain equipment that is designed to produce energy in a more efficient way or to produce energy from alternative renewable sources.

 

Industrial Research Assistance Program(IRAP): The IRAP program can provide funding for 80% of internal salaries and 50% of contract/consultant labour up to a max $50,000.

 

Next Gen BioFuels Fund:  The $500M NextGen BioFuels Fund supports the establishment of first-of-kind commercial scale demonstrations facilities for the production of next-generation renewable fuels and co-products. The Repayment Period will be for ten years after the conclusion of the Project Period.

Due to the effects of COVID-19, the Cape Breton Partnership has put together a list of helpful resources.

Find more information here.
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