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Innovation Rebate Program (IRP) | Invest Nova Scotia

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Value

An Eligible Company will be eligible for rebate of 25% of Eligible Project Costs.

Description

The Innovation Rebate Program (IRP) provides financial incentives for projects that assist Nova Scotia companies as they scale to increase their competitiveness.

The program supports companies as they innovate, drive productivity, increase production capacity, and adopt cleaner and more sustainable approaches to growth across Nova Scotia.

Eligible Applicants

To have a project approved by Invest Nova Scotia for purposes of the IRP, each applicant under the IRP (“Company”) must:

  • Be a taxable Canadian corporation as defined in subsection 89(1) of the Income Tax Act (Canada) which was incorporated in Canada (either federally or in one of the provinces).
  • Have a permanent establishment in Nova Scotia and be in operation for a period of at least 12-months, or a planned permanent establishment (as defined in subsection 400(2) of the regulations to the Income Tax Act (Canada)) in the case of new companies to the province.
  • Must be a Nova Scotia registered business in good standing (current registration on the Registry of Joint Stock Companies) prior to receiving any funds from Invest Nova Scotia.
  • Demonstrate, to the satisfaction of Invest Nova Scotia, that it is financially viable and has reasonable prospects for continued growth and success.
  • Be in compliance with the Income Tax Act (Canada),the Environment Act (Nova Scotia), Occupational Health and Safety Act (Nova Scotia) and Labour Standards Code (Nova Scotia), and the Accountability in Economic Development Assistance Act (Nova Scotia).

Eligible Expenses

The Company will submit a schedule of project costs at the time of application. Eligible Project Costs will be determined by Invest Nova Scotia upon approval of the Eligible Project under the IRP. Eligible Project Costs must be a direct cost of the Eligible Project and can include:

  • Direct costs of advanced machinery, equipment, technology, software, and hardware, including associated transportation and commissioning costs; Must represent a minimum of 50% of the total Eligible Project;
  • Used equipment costs (if applicable)
  • New building or building alterations related to the commissioning of equipment or implementation of business process improvements;
  • Consulting, engineering, and subcontracting expenses directly related to the Eligible
    Project;
  • Company incurred labour and wage costs for work performed directly on the Eligible Project; and
  • Cost of industry or product certifications required for entry into new markets.

Deadline Date

Applications are accepted on an ongoing basis.

Contact

Contact Name: Valerie Caswell SOUTH SHORE REGION (Regional Business Development Advisor)

Phone Number: 902.943.3793

Website: https://investnovascotia.ca/export/programs-services/innovation-rebate-program

Industry:

Other

Location:

Nova Scotia

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There is grant money waiting for YOU! BUT if you step in a “grant trap,” your application is a NO! Learn the FIVE most common errors to AVOID in government grants! Get the 5 Grant Gotchas now to save you countless hours.

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