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WINTER PRODUCTION FINANCING PROGRAMThis program provides financial assistance to new and expanding craft and giftwaremanufacturers to allow them to increase the inventory of their products during the winter monthsfor sale in the peak selling periods.For more information about these and other financial assistance programs contact:Innovation PEI94 Euston StreetPO Box 910Charlottetown, PE C1A 7L9Tel: 902.368.6300Fax: 902.368.6301E-mail: innovation@gov.pe.caWeb: http://www.innovationpei.com/BUSINESS TAXATIONTAX HOLIDAYSUnder the Aerospace Tax Holiday, Prince Edward Island has created a tax-free zone foraerospace companies that locate in Slemon Park in Summerside. The tax rebate incentiveprogram includes an annual 100% rebate of the provincial portion of corporate income tax andproperty tax to qualifying companies until the year 2022.Similarly, companies in the biosciences industry may be eligible for the Bioscience Tax Holiday,exempting them from provincial corporate income tax for a period of 10 years.INNOVATION AND DEVELOPMENT LABOUR REBATE (“IDLR”)The IDLR is a refundable labour rebate which may apply to projects in support of thedevelopment and/or commercialization of new products, processes and services that will besold primarily beyond the borders of Prince Edward Island. A new product, process or service isone that has not previously been successfully developed in Prince Edward Island forcommercial production or sale. The IDLR provides a rebate equal to 25% of eligible salaries andwages. Eligible salaries and wages are paid to Prince Edward Island residents for incremental,full time positions (1,850 hours per annum), and each position must have a gross wage of atleast $30,000 per annum. Any individuals maintaining ownership in the company are noteligible.Business Incentives 169