The Investment Attraction Fund is designed to attract large-scale businesses and foreign direct investment (“FDI”) to the Province of Newfoundland and Labrador. 

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The Business Growth Program normally provides non-repayable contributions up to 50 per cent of eligible costs to a maximum of $200,000 over 24 months ($100,000 per year) per project, per company. Development and Commercialization projects, however, may be considered to a higher maximum normally up to $750,000 over multiple years at varying amounts per year.

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The Job Accelerator and Growth Program (JAG Program) is a new program created to support job creation and investment in Newfoundland and Labrador. The program will promote economic growth and development by providing a payroll rebate on qualifying incremental job creation.

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Provides repayable loans to small and medium-sized enterprises (SMEs) for growth and expansion

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Junior Exploration Assistance (JEA) aims to grow the mineral inventory of the province through the discovery of new mineral districts, occurrences, prospects, and deposits

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The objective of the program is to partner with companies to increase production from both hatcheries and marine sites in Newfoundland and Labrador. The program will provide a minimum investment to projects of $250,000 for finfish operations and $100,000 for shellfish to match a private sector cash investment

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The Green Transition Fund provides financial support to businesses, organizations, post-secondary institutions, and industry associations to assist with the province’s transition to a green economy. 

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The Employment Enhancement program supports employers in the forestry, aquaculture, agriculture, and fishing sectors by providing funding to create long-term or seasonal jobs and offering a training allowance for new employees

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The Workforce Relief Fund (WRF) helps businesses and organizations across Newfoundland and Labrador retain their workforce and equip employees with new skills in response to direct or indirect impacts of tariffs.

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The Venture Capital Tax Credit Program (VCTC) is designed to encourage investment in businesses which can provide the highest returns to the provincial economy, and to encourage growth in industries such as information technology, and clean and ocean technologies, among others.

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Canadian Controlled Private Corporations (CCPC’s) that invest in equipment that generates or conserves renewable-source energy, uses fuels from waste, or makes efficient use of fossil fuels may be entitled to a credit equal to 20% of the capital cost of that equipment.

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Corporations that invest in capital property for use in qualified activities in Newfoundland and Labrador can claim a credit of 10% of the capital cost of eligible property to reduce Newfoundland and Labrador tax otherwise payable and in some cases may be refunded a portion of the credit.

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The IDM tax credit is based on eligible salaries and eligible remuneration incurred by an eligible corporation on or after January 1, 2015 for the development of eligible interactive digital media products.

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The Direct Equity Tax Credit Program (DETC) is designed to encourage private investment in new or expanding small businesses as a means of creating new jobs and diversifying the economy. An investment credit, in the form of a provincial income tax credit, is available to individuals and arm’s length corporations who invest as shareholders in eligible small business activities. There are two tax credit rates. Where the qualifying activities are undertaken in the Province outside the North East Avalon, a 35% rate applies. Where the qualifying activities are undertaken within the North East Avalon, a 20% rate applies.

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This refundable tax credit allows you to claim 15% of your eligible research and development expenditures as long as these expenditures are eligible for the federal Scientific Research and Experimental Development tax credits.

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This refundable provincial Corporate Income Tax credit is provided for eligible local film projects at a rate of 40% of eligible local labour costs, but may not exceed 25% of production costs.

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The All-Spend Film and Video Production Tax Credit is a refundable corporate income tax credit that is available to eligible corporations at the rate of 40% of eligible production costs, to a maximum tax credit of $20 million annually per project.

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IBDF is a key mechanism to facilitate the necessary collaboration, investment and industry growth required to position Newfoundland and Labrador globally as a preferred location for energy development.