The Saskatchewan government has launched a new tax incentive to attract new capital investments in large-scale chemical fertilizer facilities in Saskatchewan.
Trade and Export Development minister Jeremy Harrison says the purpose is to build on the province’s world-class agriculture and fertilizer sectors.
It’s designed to diversify and strengthen farming and fertilizer sectors, expand exports and the economy.
The program is a non-refundable, non-transferable 15 percent tax credit on capital expenditures valued at $10-million or more for new chemical fertilizer facilities in Saskatchewan.
To accommodate projects already initiated, the program was effective November 1st, 2017 and applications for conditional approval must be received before December 2026 to be eligible.
So far, deputy Trade and Export Development minister Kent Campbell says no projects have been approved for the tax credit.