Incentives

Our Location

Located on the tip of the Burin Peninsula, Grand Bank, is ideally located for commerce!

Grand Bank is in close proximity (approximately 25 nautical miles) to the French islands of St. Pierre et Miquelon, a Territory of France, making the community a gateway to the European marketplace. The community also has a fully developed supply chain to major North American markets, with local manufacturers shipping product throughout Canada and the United States on a regular basis.

Grand Bank is also located approximately 60km from the Cow Head Fabrication Facility located in Marystown, NL. This facility is currently owned by Kiewett Offshore Services and has played a role in several of the Province's offshore oil and gas projects.

Grand Bank has an ice-free port with quick access via a modern transportation system on the Trans Canada Highway to St. John's International Airport, Gander International Airport, and daily ferry service to the Canadian mainland (via Marine Atlantic).

This is a location you need to seriously consider in your future plans. Locating in Grand Bank will allow your business to grow and prosper. This is an investment you won't regret!

Our Workforce

“Establishing our factory in Grand Bank has proven to be one of the best business decisions we have made. Manufacturing an innovative product to an ever-improving standard requires long term employees who are committed to develop their craft. In Grand Bank, we enjoy very low staff turnover, a high degree of commitment and loyalty blended with an appreciation for our customer’s requirements.”

– Harold Warner, President, Dynamic Air Shelters

Commercial Real Estate

Grand Bank is home to a variety of commercial real estate, for lease or purchase at very competitive rates. The community also has a variety of building lots available for development.

For more information on available properties or land, please contact the Grand Bank Development Corporation.

Our Infrastucture

There is an abundance of water, land, and other natural resources in Grand Bank. The community has the modern infrastructure and facilities required for today's business environment.

Grand Bank has an abundance of serviced land for commercial use, as well as available commercial rental space. Both land and commercial property are available at a rate below urban centers throughout Atlantic Canada. Commercial buildings are available for small scale manufacturing and other uses at negotiable lease rates or purchase prices.

Financial Assistance

The Grand Bank Development Corporation has an investment fund to assist entrepreneurs with the start-up of a new business or the expansion of existing operations. Financial assistance is offered at low interest rates and flexible repayment terms in the form of:

Term Loans
Equity Financing
Loan Guarantees
Bridge Financing

Facilitation/ Non-Financial Incentives

The Grand Bank Development Corporation offers a variety of non-financial services, such as:

Business planning assistance
Business counseling
Accessing other sources of financial assistance

Atlantic Canada/ Opportunities Agency (ACOA)

ACOA has a variety of programs focusing on small to medium sized enterprises (SMEs) that can assist with aspects of business ranging from start-up to expansion to research and development.

For more information on ACOAs programs, please contact the GBDC or visit www.acoa-apeca.gc.ca

Department of Jobs, Growth and Rural Development

The Department of Jobs, Growth and Rural Development has a variety of programs, both financial and non-financial to assist businesses with everything from start-up and expansion to export and marketing. For more information visit the Department's website at https://www.gov.nl.ca/jgrd/

TCII is also responsible for the Economic Diversity and Growth Enterprises (EDGE) Program. This program provides a package of incentives to encourage significant new business investment in the Province to help diversify our economy and stimulate new private sector job creation, particularly in rural areas.

It offers a 100% rebate on provincial corporate income tax and the provincial health and post-secondary education (payroll) tax for a period of 10 years if the business is established within the Northeast Avalon area and for 15 years if it is established outside of the Northeast Avalon area.

Economic Diversity, and Growth Enterprises (Edge) Program

This program provides a package of incentives to encourage significant new business investment in the Province to help diversify our economy and stimulate new private sector job creation, particularly in rural areas.

It offers a 100% rebate on provincial corporate income tax and the provincial health and post-secondary education (payroll) tax for a period of 10 years if the business is established within the Northeast Avalon area and for 15 years if it is established outside of the Northeast Avalon area.

National Research Council (NRC) Industrial Research Assistance Program (IRAP)

The National Research Council provides access to technical assistance: resources and facilities, financial, marketing and management services. It offers advisory services that provide access to a wide range of specialized resources and vital expertise on anything from product design and materials selection to production methods and project management. The NRC offers financial assistance by possibly funding up to 50% of certain project costs and can range from $5000 to a maximum of $350,000.

For more information on IRAP, please visit the NRC website at: http://www.nrc-cnrc.gc.ca/

Some of the Non-Financial Services offered by the Grand Bank Development Corporation include:

Business planning assistance
Business counseling
Accessing other sources of financial assistance