REGINA – Applications for the Small and Medium Enterprise Investment Tax Credit are now officially open.
Minister of Trade and Export Development Warren Kaeding made the announcement Friday at the Pile O’Bones Brewery. As of Friday, Nov. 21, businesses and investors are able to apply through the new SME Investment Tax Credit online application portal on Saskatchewan.ca.
Kaeding said the program is “designed to make it easier for small and medium-sized manufacturers to attract new investment, expand their operations, and create jobs across this great province.”
The credit is for investments between July 1, 2025 and June 30, 2028 and can be claimed over a seven-year period. Kaeding said that through the SME Investment Tax Credit online application portal, businesses and investors can submit and track their applications.
Pile O’Bones Brewery was picked as the location of the launch, and showcased as an example of the Saskatchewan innovation and local entrepreneurship that they want to promote.
“Businesses like this really show what happens when local talent, hard work, and community support all come together,” Kaeding said. “And through the SME Investment Tax Credit, we hope to help more businesses like them take that same leap forward.”
He said the initiative will target two key areas of the manufacturing sector. Food and beverage manufacturing is one sector targeted, and the government was joined by a number of representatives from the craft brewing industry in Saskatchewan for the announcement.
But the other sector that is being targeted is machinery and transportation equipment manufacturing.
“These are industries that really have a very strong potential for growth and have incredible know-how,” Kaeding said.
“So by supporting them, we're helping ensure that these manufacturers can continue to innovate and expand so they can remain competitive, not just in our province, not just in Canada, but globally. So small and medium-sized businesses are really the heart of Saskatchewan's economy. Small business is big business here in Saskatchewan. They drive innovation, they create opportunities, and they keep communities strong.”
Kaeding also acknowledged that accessing capital can be a major barrier to growth, and he said the SME Investment Tax Credit helps address that challenge.
“By making investment in Saskatchewan enterprises more attractive, this program unlocks new opportunities for technological upgrades, automation, and supporting export growth. It allows Saskatchewan businesses to take that next step. Whether that means just buying new equipment, maybe it's adding a production line, or hiring more employees. And it moves forward Saskatchewan's growth plan. It helps strengthen our economy by driving private investment, by diversifying manufacturing, and by building value- added production capacity.”
Glenn Valgardson, owner and CEO of Pile O’Bones Brewing, welcomed the tax credit. He said it “would have been such a tremendous opportunity for us” when they were starting out.
“You know, when you're trying to do any kind of a capital fundraiser, an equity raise in a business, you know, that money has to come from somewhere,” Valgardson said.
He said that generally when you are a small business, you are "limited to qualified investors or friends and family.” He sees this program as an “excellent way for friends and family to invest their tax dollars into your business,” and one that opens up a lot of opportunities and adds a minor safety net for investments.
“So it would have been really good when we were building this place. We had to raise a lot of money. We kind of did it the old way. We got through it and very happy we did. But it's very encouraging to see a program like this come out.”
