NorthBridge Success Story: Ontario Manufacturer Leverages SR&ED Tax Credit to Invest in Product Development

NorthBridge engaged a manufacturer in Brant County that was looking to develop new products and processes for their manufacturing facility. In order to enter new markets and become more competitive, the company was looking to invest in research and development. They had looked into government funding programs but were unaware that they qualified and could be receiving government assistance for their projects. Our team was able to identify projects that qualified for the SR&ED tax credit. The SR&ED program can provide both refundable and non-refundable Investment Tax Credits (ITCs) for labour, materials, overhead, and subcontractor costs related to scientific research and experimental development (SR&ED).

Our NorthBridge team of engineers and technical writers worked with the company to prepare the claim and the project narratives for the R&D projects. As a result of our communication with the company and preparation of the SR&ED claim, the project expenditures were accepted as filed. The ITCs received will be invested in future development projects and will allow the company to stay competitive and reach new levels of success.

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