SR&ED in the Agriculture Industry
Eligible Sub-sectors include:
- Plant & livestock
- Swine genetics
Agriculture and Agri-food continue to play an important role in federal and provincial economies, making a significant $110 billion contribution to Gross Domestic Product (GDP). In 2009, it directly provided one in eight jobs, employing two million people and accounting for 8.2% of total GDP.
The past two years have seen the agriculture and agri-food industries be heavily influenced by both crude oil and commodity prices – first rising sharply in 2008 and then declining again in 2009 due to the recession and record crops.
The volatility which we have seen has added a heightened level of uncertainty associated with the production and development of agriculture and agri-food products in Canada, resulting in higher competition.
Those in the agriculture industry who are, as a result of higher competition, experimenting and working on innovative products and processes, can greatly benefit from Canada's Scientific Research & Experimental Development (SR&ED) program, Growing Forward 2, and the AgriMarketing program.
You May Be Eligible If:
- You have experimented with new varieties of plants
- You have conducted experimentation on environmentally-friendly pest control regimes
- You are a fertilizer manufacturer or feed mill who has made improvements to your product
- You have experimented with plant breeding or swine/poultry genetics
- You have invested in bio-digesters to reduce your methane production
To see how the experts at NorthBridge can help you with your SR&ED claim, contact us for a free consultation.