Advanced Marine Technology (AMT) Tax Rebate
10-year tax rebate for eligible advanced marine technology companies establishing operations in PEI for global export.
About this program
The Advanced Marine Technology Tax Rebate took effect on July 3, 2015 and applies to eligible companies that establish operations within Prince Edward Island in the AMT sector. Modeled on the success of PEI's aerospace industry, the 10-year tax rebate supports AMT companies with proven research capacity developing innovative marine technology for global applications. Eligible companies must engage in R&D, manufacture, and export of advanced marine technology products and services from PEI. PEI's advanced marine technology sector grew from under $5 million in sales to over $100 million with close to 200 staff in under 5 years.
Eligibility
Eligible companies fitting the definition of Advanced Marine Technology sector with proven research capacity, developing innovative marine technology for global applications, engaged in R&D/manufacture/export of AMT products from PEI.
Requirements
- Establish operations in PEI in the AMT sector
- Proven research capacity in marine technology
- Innovation focus for global applications