Granby, Quebec, September 3, 2009 ... The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Mr. François Dandenault, President and Chief Executive Officer of Les Enductions Repulpables RETEC Inc., and personally delivered $100,000 in scientific research and experimental development (SR&ED) investment tax credits earned by the company.
During a tour of the company's facility in Granby, 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 businesses like Les Enductions Repulpables RETEC Inc., a business that specializes in the development of new products and technologies in the paper and packaging industry," said Minister Blackburn. "Businesses like Les Enductions Repulpables RETEC Inc. 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 Les Enductions Repulpables RETEC Inc. in the design and development of water‑based coating technologies that are resistant to water vapour, oxygen, carbon dioxide, oil, and grease.
"The SR&ED program shows the Government's commitment to supporting research and development in Canada," said Mr. Dandenault. "This program helps Les Enductions Repulpables RETEC Inc. develop and patent fully repulpable and recyclable high‑tech, high‑barrier coatings."
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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