Community Economic Development Business Program (Prince Edward Island, Canada)
Last modified on February 12, 2015.
|Place||Prince Edward Island|
|Applies to States or Provinces||Prince Edward Island|
|Name||Community Economic Development Business Program (Prince Edward Island, Canada)|
|Policy Category||Financial Incentive|
|Policy Type||Personal Tax Incentives|
|Affected Technologies||Biomass/Biogas, Concentrating Solar Power, Energy Storage, Geothermal Electric, Solar Photovoltaics, Wind energy|
|Program Administrator||Prince Edward Island Department of Finance and Municipal Affairs|
The Community Economic Development Business (CEDB) program has been created as part of the Prince Edward Island Rural Action Plan to support local investment in innovative Prince Edward Island businesses.
The program is coordinated by the Department of Finance and Municipal Affairs under the Community Development Equity Tax Credit Act and its regulations. Its objective is to facilitate local investment in Prince Edward Island businesses, with the ultimate aim of stimulating rural community development.
The Community Economic Development Business program is a made-in-PEI initiative designed to achieve similar objectives to the Nova Scotia Community Economic Development Investment Funds.
Local investors in Community Economic Development Businesses will receive relatively generous personal income tax credits for their commitment to local community investment. An investment is eligible for RRSP tax deductibility. The total cost to provincial government will depend on the success of local entrepreneurs in establishing community economic development businesses as well as local community investment interest.
|Contact Name||CEDB Coordinator|
|Department||Prince Edward Island Department of Finance and Municipal Affairs|
|Division||Community Economic Development Business|
|Address||P.O. Box 2000|
|Zip/Postal Code||C1A 7N8|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Community Development Equity Tax Credit Act|