Community Economic Development Corporation (CEDC) tax credit program

Post date: Oct 20, 2018 11:43:48 AM

The Community Economic Development Corporation (CEDC) tax credit program will offer a 30 per cent tax credit to Albertans who invest in registered CEDCs. In turn, the corporations will provide capital to Alberta small businesses and co-operatives that focus on social improvement or rural economic development.

“Entrepreneurs put a lot on the line when they start a small business and we want to make it easier for Albertans to support them. Much like the Alberta Investor Tax Credit, this credit helps us invest in our own backyard, benefiting businesses that tackle important challenges in our hometowns and neighbourhoods.”

Deron Bilous, Minister of Economic Development and Trade

Examples of the types of activities the tax credit will support include:

• A value-added agriculture business or tourism operator developing new products in a rural community.

• A business owner offering mentorship and training to employees to help them overcome employment barriers.

• A new owner carrying on the legacy of a community-based business when its original owners retire.

• A business offering affordable food products to lower-income families. 

Similar credits have been available in Manitoba and the Maritime provinces for several years.

The program budget is $9 million over three years. Application intake for the program is now open. Additional program details, including eligibility criteria and information on when, where and how to apply, are available at alberta.ca/community-economic-development-corporation-tax-credit.aspx.