Aerospace and Defence Tax Rebate
There are over 900 employees in the aerospace industry across Prince Edward Island - the majority of these jobs are at Slemon Park.
Slemon Park is a 1,500 acre business park located just outside of Summerside, Prince Edward Island. This includes an airport with two runways and many well-maintained hangars ranging in size from 25,000 to 300,000 square feet. Slemon Park also has on-site recreational facilities, a hotel, and a restaurant.
A tax rebate incentive for aerospace and defence-related companies offers a full yearly rebate on all corporate income tax paid to the province of Prince Edward Island. There is also a full yearly rebate of all real property tax relating to ownership or rental of spaces in Prince Edward Island. The vibrant aerospace industry in Prince Edward Island is an important wealth generator for the province.
Do I qualify?
You / your company qualify if you are:
- new and existing Aerospace and Defence firms in Prince Edward Island;
- aerospace companies that have 20 or more employees or a payroll over $700,000;
- aerospace companies working in the Aerospace and Defence sector as defined by the Province of Prince Edward Island; and
- Tax Rebate Incentive
The tax rebate will continue until December 2024. Qualified companies are those working in aviation, aerospace, or defence businesses such as:
- original equipment manufacturers,
- strip and paint shops,
- repair and overhaul operations, or
- training and various aviation support businesses.