Large Employers in Quebec Can Now Apply for Funding to Support up to 45% of Labour Costs
This program aims to accelerate investments within Quebec in order to create and consolidate well-paid jobs.
- Deadline to submit a complete application: March 31, 2022.
- Start of project implementation: before March 31, 2023.
- New investment or payroll growth projects.
- Applicants must be planning a minimum of a $10 million investment or the creation of 100 jobs.
- The manufacturing and service sectors are strong candidates for funding.
- The average salary of jobs created or consolidated must be higher than the industry average.
- Companies, as well as cooperatives and NPOs with commercial activities, are eligible.
Project Funding Details:
- Key program metrics include the value of capital assets or payroll increases over a three-year period.
- Assistance is available based on total number of jobs created and/or consolidated, along with tax revenues generated by the project.
- Interest-free loans of up to 25% of eligible expenses are available.
- Loan forgiveness based on the number of jobs created and/or consolidated at a rate of $25,000 per job for a salary of $55,000, and up to $50,000 for a salary of $150,000 or more.
- Assistance is adjusted for payroll tax credits.
- Loan forgiveness is available starting in the 5th year. The term of the loan (unforgiven portion) is 8 years.
- Companies must invest a minimum of $300,000 per job to be considered consolidated by the project.