Advantages

Establishing a business presence in Prince Edward Island is easy, cost effective, and smart. Companies that have located in Prince Edward Island are enjoying a labour savings of 20 to 25%, office space savings of over 40%, and staff recruitment savings of over 50% compared to other locations in North America.

The 2014 KPMG Competitive Alternative Study ranked Prince Edward Island as one of the most cost effective locations in North America for shared services functions, software development, precision machining, specialty chemical production, and bio-science research and development activities. In its recent review of Provincial economic performance, the Conference Board of Canada gave Prince Edward Island an A+ ranking for attracting green-field investments and an A+ rating for job creation.

Multinational companies such as Electronic Arts, Sekisui Diagnostics, Invesco, Buchanan Technologies, and CGI have all located business units in Prince Edward Island and enjoying the benefits of:

  • A cost effective and reliable work force with one of Canada’s lowest turnover rates
  • A secure location with little threat of natural disaster, terrorist threat, or commercial espionage activities
  • World class infrastructure specifically developed to support business needs including access to a data centre, ready-to-go lab space, and private commercial airport and hangar space for aviation related activities
  • Government partners that provide an “ease of transition” to help new businesses establish a presence with recruitment support, a developed data base of potential employees, ready-to-go office space, and tailored government incentives designed for business success
  • Education institutions and other partners ready to work with business to tailor training programs for a sustainable work force

Workforce

  • The second highest worker participation rate in Canada which means employers have ready access to full time workers
  • Recruitment support
  • One of the lowest rates of days lost per worker in Canada

Provincial Incentives

  • A labour rebate of 25% on eligible labour expenditures for first year positions or a 7.5% labour rebate on eligible labour expenditures on all employees year over year for 10 years
  • A rental rebate of $6.00 per square foot for office, lab, or manufacturing space
  • Competitive product development and commercialization rebate programs of $25,000 and $100,000
  • Debt financing programs for equipment, lease hold improvements, new construction, and marketing

Sector Strengths

  • Aerospace
  • Bioscience
  • Information Communication Technology
  • Buiness and Financial Services
  • Advanced Manufacturing and Renewable Energy
Map of Canada with the province of Prince Edward Island highlighted.

Provincial Profile

Population: 145,211

Major cities: Charlottetown and Summerside