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A Resource Regional County Municipality (MRC)
Fiscal advantages related to the resource MRC status of the MRC territory
Since the coming into force of the decree respecting the economic development strategy for resource regions developed by the Québec government, the strategy applies to the Gatineau Valley MRC territory. It offers very interesting advantages to entrepreneurs who wish to start a business on the territory.
Following are the three major intervention axes to which unprecedented fiscal measures and significant financial support apply.
1. Fiscal Measures
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1.1
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Zero tax for small to medium size existing or new incorporated manufacturing companies. This measure represents a major incentive for the MRC’s economy. It will have an immediate and long-lasting impact in stimulating manufacturing companies’ growth and expansion as well as entrepreneurship development.
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TAX HOLIDAY
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ELIGIBILITY PERIOD
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| Income tax |
Until December 31, 2010
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| Capital tax |
| General payroll tax
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| No ceiling for fiscal holiday amount |
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1.2
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Refundable tax credits to stimulate primary and secondary processing. Regions with an economy based to a large extent on natural resources development must absolutely take up the challenge of secondary and tertiary resource processing. Refundable tax credits for secondary and tertiary processing constitute a significant assistance for that purpose. Under this measure, tax credit can apply to 40% of the salaries of new employees for a five-year-period. There is no maximum per job in terms of salaries and fiscal assistance. But BE AWARE, to benefit from this measure, the project must start before December 31, 2004.
Eligible activities under this measure are related to the following sectors:
- Wood processing;
- Energy;
- Metal processing.
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1.3
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Refundable credits for mining exploration and companies involved in renewable energy.From 20% to 40% in tax credits is applicable to many activity areas related to the mining and renewable energy sector: exploration and prospecting, development and fees related to the acquisition and installation of a windmill for testing purposes. |
2. Financial Assistance
In addition to tax credits, the government is investing an additional amount in the Vallée-de-la-Gatineau MRC territory over the next three years. Building on the region’s priorities, this amount will be used to support projects and initiatives aimed at stimulating economic development and job creation. Three intervention axes will be given preference:
AXIS 1 Increase added-value, accelerate economic diversification
- Increase local products processing;
- Stimulate secondary and tertiary processing;
- Promote the development of new activities;
- Develop tourism potential;
- Promote the emergence and development of niches of excellence.
AXIS 2 Ensure the resource sector’s growth
- Develop and maintain the forest and agri-food sector;
- Support and develop the mining industry.
AXIS 3 Facilitate small to medium size businesses financing and business development
- Entrepreneurship support measure;
- Financial tools better adapted to businesses’ needs.
Contact a LDC officer directly to obtain more information on all these measures and to immediately take the steps to start or upgrade your business on our territory.
INVESTING YOUR TALENT AS A DEVLOPER IN THE VALLÉE-DE-LA-GATINEAU MRC IS PROFITABLE FOR YOU AND FOR THE WHOLE REGIONAL COMMUNITY!
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