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Prince Edward Island

Much More than Just a Pretty Place

Low corporate taxes, operating costs and labour rates, along with tax incentives and leading edge R&D, are fuelling the growth of Prince Edward Island’s industries, ranging from veterinary vaccines and human therapeutics to high-performance industrial engine industries in the aerospace sector. The provinces pristine environment and spectacular coastal scenery support the thriving tourism and film industries while the abundance of agriculture and marine resources, provide a competitive advantage in food processing. PEI’s investment advantages are surpassed only by the province’s exceptional quality of life, making it a great place to operate a business and raise a family.

Business Environment

  • Highly skilled, well-trained workers supported by an excellent communications and business infrastructure
  • Tax and labour rebates support the establishment and growth of innovative, export-oriented firms by addressing key structural challenges in the Island economy
  • Extensive tax incentive structure includes The Specialized Labour Tax Credit which allows new businesses a jump start by providing an incentive for workers with specialized expertise or skills to work in the province and the Share Purchase Tax Credit which provides a tax rebate on personal income tax of 35% of the value of an investment in a PEI corporation

Workforce

  • High degree of stability, single digit turnover and an enviable work ethic
  • A desirable relocation destination with the capacity to encourage skilled workers to return to the province
  • Some of the lowest labour costs in Canada which translate into considerable savings for companies based out of PEI

Other Key Advantages

  • Conveniently located on the east coast of Canada, in the Gulf of St. Laurent, allowing rapid access to North American and European markets through year-round seaports and major air cargo routes
  • World-class high-speed digital telecommunication network
  • Home to 14 business parks like the Airport Business Park
  • Exports have increased by 76.5% between 1997 and 2007
  • Small business tax rate is 2.1% to be reduced to 1% as of April 1, 2010

Sector Strengths

  • Aerospace
  • Bioscience
  • Diversified Manufacturing
  • Information Technology
  • Agri-food & Seafood
  • Financial Services