As mentioned previously by the Alberta government, SR&ED funding was removed provincially for fiscal year January 1st, 2020 and on. This was unwelcome news as all Provinces should be investing in research and innovation to boost job growth, increase economic growth and boost Canada’s innovation reach in a variety of industries.
That all has changed now as the Government of Alberta has announced the Innovation Employment Grant. The proposed grant is expected to launch January 2021 and will support small and medium businesses that invest in SR&ED up to 20% of qualifying expenditures. The new grant is currently under review, so there is minimal information at this time. Braithwaite Canada will continue to keep you updated on the new proposed SR&ED grant.
Source: Government of Alberta https://www.alberta.ca/innovation-employment-grant.aspx
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