The Quebec government has announced the addition of the Soutien aux projets d’investissement transformateurs (SPRINT) component to the ESSOR program, administered by Investissement Québec, to create quality jobs and accelerate the completion of new investment projects in Quebec.
Eligible projects must involve investments of at least $10 million or the creation of 100 new jobs, with salaries higher than the region’s average wage.
This new economic stimulus measure is in addition to those put in place by the Quebec government to support companies in their recovery from COVID-19.
To boost the Québec economy, the government is also counting on the tax benefits associated with the quality jobs created by investment projects.
Highlights :
- Financial assistance under the SPRINT initiative will take the form of an interest-free loan of up to 25% of eligible expenses. Forgiveness may be granted on the basis of the number of jobs created or consolidated, at a rate of $25,000 per job for a salary of $55,000, and up to $50,000 for a salary of $150,000 or more.
- The ESSOR program is designed to support investment projects in Quebec, with a view to boosting competitiveness and productivity, creating jobs and promoting sustainable development.
Related link:
To find out more about the main terms and conditions of the SPRINT program and how to apply for financial assistance, visit https://www.economie.gouv.qc.ca/bibliotheques/programmes/aide-financiere/programme-essor/sprint.
