St-Bruno, Quebec, September 2, 2009 ... The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Mr. François Nadeau, President of Tecnar Automation Ltd., and personally delivered $951,000 in scientific research and experimental development (SR&ED) investment tax credits earned by the company.
During a tour of the company's facility in St-Bruno, Minister Blackburn spoke with company officials about the importance of the SR&ED program as the largest source of federal government support for industrial research and development.
"The Government supports Canadian innovative businesses like Tecnar Automation Ltd. This company is a unique association of research and development, production, and international marketing professionals working in the development, manufacturing, and marketing of niche technologies in the areas of automation and industrial process control," said Minister Blackburn. "Businesses like Tecnar Automation Ltd. are crucial to the long-term growth of our economy, providing sustainable jobs in our communities and helping improve the quality of life for all Canadians."
SR&ED investment tax credits support Tecnar Automation Ltd. in the design and development of highly specialized product lines in the areas of automation and industrial process control such as thermal spray, ultrasound lasers, and rotoweld.
"The SR&ED program shows the Government's commitment to supporting research and development in Canada," said Mr. Nadeau. "This program helps Tecnar Automation Ltd. maintain a highly specialized, dynamic research and development program and design products sought by a multitude of international organizations ranging from small‑ and medium‑sized manufacturers to leading businesses in aerospace, energy, and heavy industry."
The SR&ED program is a federal tax incentive program administered by the Canada Revenue Agency, which encourages Canadian businesses of all sizes, and in all sectors, to conduct research and development in Canada. The SR&ED program gives claimants cash refunds and/or tax credits for their expenditures on eligible work done in Canada.
For more information on the SR&ED program, and details on how to apply, go to www.cra.gc.ca/sred.
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