The provincial government launched a new capital investment policy designed to support export oriented small businesses.
Premier Brian Gallant said the program is expected to cost them $2 million and will be available later this year.
“The [Capital Investment Enhancement] Policy will allow companies with fewer than 100 employees to apply for a 20% investment in capital projects valued between $50,000 and $150,000,” says Gallant.
The Premier continued saying there was another option, a “25% investment for projects valued between $150,000 and $250,000.”
Gallant explained the eligibility criteria, saying the business in question must be from New Brunswick, or employ New Brunswickers within the province.
“Each applicant must have fewer than 100 employees, and be designated as a small business by the Canada Revenue Agency,” says Gallant. “Applicant companies must have a product for export, import replacement, or integration into New Brunswick’s export supply chain.”
Successful applicants must also be paying their employees an average annual salary of more than $30,000.
