Government programs and incentives help aviation companies with production, marketing, exporting, innovation and financing. Here are some of the most popular programs.
Tax Credit for Scientific Research and Experimental Development (SR&ED) offers tax credits of 35% up to the first $3 million of expenses, and 20% on any excess amount related to experimental development, applied research, basic scientific research and certain types of technical support work.
Industrial Research Assistance Program (IRAP) provides SMEs with technical assistance, financing and business advice that mean the difference between success and failure in a competitive global industry. NRC-IRAP also links SMEs to original equipment manufacturers, which can help pull innovative companies up the technology ladder.
Industrial Technologies Office (ITO) Strategic Aerospace and Defence Initiative (SADI) aerospace and defence (A&D) industries with repayable contributions for strategic R&D projects. Contributions to SADI projects will equal approximately 30 percent of a project’s total eligible costs.
Western Innovation (WINN) Initiative offers interest-free repayable contributions to SMEs proposing to commercialize a new technology, product, process or service in Western Canada. The program helps companies overcome the commercialization challenge by providing up to 50% of eligible project costs to a maximum of $3.5 million per project, repayable over 6 years.
British Columbia Tax Credits provide credits, exemptions and deductions to encourage business investment and innovation. Provincial tax incentives and exemptions exist for R&D, international business activity, as well as machinery & equipment investments.
International Skilled Workers offers accelerated immigration for qualified skilled workers, experienced entrepreneurs and their family members who want to settle in B.C. and become permanent residents of Canada.
Sustainable Development Technology Canada funds technologies with demonstrated potential to both meet market demand and help achieve Canada’s environmental goals. The Foundation provides financial support, applies a rigorous due diligence process modeled on those used in the venture-capital world, and supports entrepreneurs with business advisory services. In doing so, SDTC de-risks clean technologies and helps prepare them for downstream financing.
Build in Canada Innovation Program (BCIP) helps companies bridge the pre-commercialization gap for their innovative goods and services within the federal government before taking them to market. Companies in the last stages of research and development are integrated into the Government of Canada’s procurement system and provided with testing, feedback and an opportunity to enter the marketplace with a successful application of their new goods or services.
Use our Funding Portal to search a database of all grants, loans and financing available to Aviation companies.