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Minister Blackburn delivers over $1 million in research and development investment tax credits to Dycor Technologies Ltd.

2009-07-15
Edmonton, Alberta, July 15, 2009…  The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Mr. Markus Lemke, Vice President, Marketing, of Dycor Technologies Ltd., and personally delivered $1,037,000 in scientific research and experimental development (SR&ED) investment tax credits earned by the company. 
 
During a tour of the company’s facility in Edmonton, 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 Dycor Technologies Ltd., which is a world leader in biological detection technology,” said Minister Blackburn. “Businesses like Dycor Technologies Ltd. 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 Dycor Technologies Ltd. in providing advanced, ready-to-deploy systems for biological threat detection and also for data acquisition and controls in oilfield operations.
 
“The SR&ED program shows the Government’s commitment to supporting research and development in Canada,” said Mr. Lemke, Vice President, Marketing, of Dycor Technologies Ltd. “The SR&ED program helps Dycor Technologies Ltd. maintain a strong research and development program focused on enhancing our biological threat
detection technology designed for the military and public health sectors, as well as improving our data acquisition and controls technology, widely deployed in the oil industry.”
 
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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