Significant Rebates Available for Businesses in Nova Scotia Investing in Advancing Innovation, Productivity, and Clean Growth
The Innovation Rebate Program (IRP) provides financial incentives for projects that assist Nova Scotia companies as they scale to increase their competitiveness. The program supports companies as they innovate, drive productivity, increase production capacity, and adopt cleaner and more sustainable approaches to growth across Nova Scotia.
The IRP will be combined with the Forestry Innovation Rebate Program and Small Medium Enterprise Innovation Rebate Program as of April 1, 2022.
To be considered eligible, projects must be approved by Nova Scotia Business Inc. for purposes of the IRP and may include:
- Implementation of new, significantly improved, and/or more sustainable production processes;
- Supporting the sustainability of traditional industries, including improving energy efficiency, integrating renewable energy, waste reduction, circular economy activities, greenhouse gas emissions reduction, and increasing resilience to the impacts of climate change;
- Scaling production capacity for companies producing sustainable and green products that will support sustainable development goals in Nova Scotia and globally;
- Strengthening supply chains to enable production in Nova Scotia (projects that replace existing Nova Scotia based producers are not permitted);
- Increasing production capacity to enter new markets and/or produce new products;
- Establishing new production facilities in Nova Scotia; and
- Value-added processing for traditional industries such as forestry, seafood, and agriculture
- The IRP will cover up to 25% of eligible project costs.
- An eligible project must have a minimum total budgeted Nova Scotia investment (excluding tax) of no less than $350,000, and the maximum amount of eligible project costs to which the IRP rebate will be applied is $15,000,000.