Released on July 27, 2020
Program To Attract New Capital Investment And Jobs, Strengthen Economic Competitiveness
Today, the Government of Saskatchewan launched the Saskatchewan Chemical Fertilizer Incentive (SCFI) program. A SaskFirst new growth tax incentive, the SCFI program will help attract new capital investments in large-scale chemical fertilizer production facilities in Saskatchewan, while creating new construction and operational jobs in the province.
“This new Saskatchewan Chemical Fertilizer Incentive makes our strong investment environment even more attractive,” Trade and Export Development Minister Jeremy Harrison said. “Our ambitious Growth Plan 2030 highlighted the creation of this SaskFirst new growth tax incentive, which will help ensure the competitiveness of Saskatchewan as we focus on critical economic recovery now and strong economic growth for our province over the next decade.”
The SCFI fulfills the commitment in Saskatchewan’s Growth Plan to introduce a chemical fertilizer incentive to encourage investment in the sector in Saskatchewan.
The SCFI is a non-refundable, non-transferable 15 per cent tax credit on capital expenditures valued at $10 million or more for newly constructed or expanded eligible chemical fertilizer production facilities in Saskatchewan.
“Our province has what the world wants in food, fuel and fertilizer,” Harrison said. “This new program will build on Saskatchewan’s already world-class agriculture and fertilizer sectors, helping to diversify and strengthen those industries, our exports, and grow the larger economy right here at home.”
To accommodate projects that have been initiated, the program was effective November 1, 2017, and applications for conditional approval must be received before December 31, 2026, to be eligible.
For more information, please visit www.saskatchewan.ca/chemical-fertilizer-incentive.
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For more information, contact:
Robin Speer
Trade and Export Development
Regina
Phone: 306-519-5006
Email: robin.speer@gov.sk.ca