Waterdown, Ontario, January 13, 2010… The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Mr. Len Vander Lugt, President of Aldershot Greenhouses Limited, and personally delivered $245,000 in scientific research and experimental development (SR&ED) investment tax credits earned by the company.
During a tour of the company's facility in Waterdown, 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 Aldershot Greenhouses Limited, a technological leader in the production of potted mini-roses," said Minister Blackburn. "Businesses like Aldershot Greenhouses Limited 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 Aldershot Greenhouses Limited in the production of highly versatile potted roses.
"The SR&ED program shows the Government's commitment to supporting research and development in Canada," said Mr. Vander Lugt. "The SR&ED program helps Aldershot Greenhouses Limited optimize its technologies for producing high-quality potted roses for indoor and outdoor spaces."
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.
