Last Thursday the provincial government in Prince Edward Island announced that bioscience companies with more than 10 employees and a $750,000 annual payroll
will now be eligible to receive a full rebate on their provincial corporate income taxes
for up to 10 years.
This is a bold step and is one which the provincial governments in the other Atlantic provinces should take heed of and emulate or improve on.
Good for PEI and its budding biosciences industry. Unfortunate for bioscience companies in the other provinces (unless they move - which is, I am sure, what the PEI government is hoping).
19 October 2006
PEI takes bold step
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