Fairtax helps manufacturers secure funding for projects and expenditures relating to growth, expansion, job creation, third-party training, acquiring new equipment and technology, and process improvements that increase energy efficiency.
The Strategic Innovation Fund supports research and development that will accelerate technology transfer and commercialization of innovative products, processes and services. It also supports manufacturing and processing to facilitate the growth and expansion of firms in Canada. It includes industrial and technological facility improvements and the establishment of new facilities.
The Innovation Rebate Program (IRP) provides financial incentives for projects that enable a company to increase innovation capacity through private-sector capital investments, through the adoption of new technologies and business processes. The IRP will work as a rebate against a company’s direct costs.
The CITC is a 2-year program that provides a non-refundable tax credit valued at 10% of a corporation’s eligible capital expenditures, up to $5 million. The program encourages companies to make timely capital investments by returning a percentage of the company’s costs, including the purchase of machinery, equipment and buildings. It is expected to generate $700 million worth of investment and support thousands of direct and indirect jobs in Alberta.