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Minister Blackburn delivers $931,000 in research and development investment tax credits to Motion Metrics International Corp.

2009-08-12
Vancouver, British Columbia, August 12, 2009…  The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Dr. Shahram Tafazoli, Founder and President of Motion Metrics International Corp., and personally delivered $931,000 in scientific research and experimental development (SR&ED) investment tax credits earned by the company.  
 
During a tour of the company’s facility in Vancouver, 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 is supporting Canadian businesses like Motion Metrics International Corp., which provides innovative solutions for the mining industry,” said Minister Blackburn. “Businesses like Motion Metrics
International Corp. 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 Motion Metrics International Corp. in the development of advanced monitoring systems used to increase production efficiency, minimize downtime and improve the safety of mining
operations.
 
“The SR&ED program shows the Government’s commitment to supporting research and development in Canada,” said Dr. Tafazoli. “The SR&ED initiative helps Motion Metrics International Corp. maintain a strong research and development program. Thanks to this program, we have managed to design innovative high-tech products and have deployed these ‘made-in-Canada’ solutions in many sites around the world, successfully competing in the global marketplace. Our flagship product,ToothMetrics™, a camera-based automatic missing tooth detection system for mining shovels, has prevented many fatal accidents resulting from broken shovel teeth getting stuck in the mine crushers. Additionally, this ‘made-in-Canada’ high-tech solution has saved mines around the world millions of dollars in potential damages.”
 
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.

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