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Minister Blackburn delivers $928,000 in research and development investment tax credits to Novartis Animal Health Canada

2009-08-27
Charlottetown, Prince Edward Island, August 27, 2009…  The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Kira Salonius, Director of Research and Development, Aqua Health, for Novartis Animal Health Canada, and personally delivered $928,000 in scientific research and experimental development (SR&ED) investment tax credits earned by the company.  
 
During a tour of the company’s research facility in Charlottetown, 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 Novartis Animal Health Canada, which focuses on the well-being of companion animals and on the health and productivity of farmed species around the world,” said Minister Blackburn. “Businesses like Novartis Animal Health Canada are crucial to the long-term growth of our economy and the developing biosector here in Prince Edward Island, providing sustainable jobs in our communities and helping improve the quality of life for all Canadians.”  
 
SR&ED investment tax credits support Novartis Animal Health Canada at its state-of-the-art Prince Edward Island research and development centre in developing new and better treatments to combat bacterial, viral, and parasitic infections in fish populations around the globe.
 
“The SR&ED program shows the Government’s commitment to supporting research and development in Canada,” said Salonius. “The SR&ED program helps Novartis Animal Health Canada maintain a strong research and development program which helps improve the health and productivity of farmed fish through research for new preventative medicinals, therapies, and delivery mechanisms.”
 
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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