Prince Edward Island routinely ranks as one of the most cost competitive business cost locations for advanced software development in the annual cost comparison survey by KPMG. When compared to jurisdictions like San Francisco, Seattle, Boston, Los Angeles, and others, Prince Edward Island scores more than 30% in savings on overall costs.
The Prince Edward Island workforce is extremely loyal to their employers. On average our companies report retention rates of less than 5% and average employee duration with these companies is over 8 years. Not having to repeatedly retrain staff is a definite benefit for your PEI operation.
The lower costs, coupled with incentive programs for eligible companies, mean your dollar will go further in PEI. Now you can put more money into the areas that need it most – developing and marketing your games and, ultimately, increasing your revenue stream and profit.
We act as agents to bring other resources to the table to help companies foster relationships, develop great games, create new technologies, and grow their overall business.
Prince Edward Island provides a video game labour rebate for approved companies and projects. The program provides a rebate on direct payroll costs, payable on a quarterly basis. This program is not tied to taxes and assists with cash flow. The claim process has been streamlined to make it extremely efficient so you can spend more time on creating great games, and less time on paperwork.
Video Game Labour Rebate
Game companies expanding their operations to Prince Edward Island may be eligible for our Video Game Labour Rebate (VGLR). This program provides game studios with a rebate against eligible production labour. Key features of the program include:
- eligible labour applies to all staff working full time and living in Prince Edward Island, except for those who possess more than 5 % ownership of the company.
- unlike most jurisdictions offering a labour based tax credit, companies may apply for quarterly payments of the rebate based on actual payroll records. This enables positive cash-flow for studios during the development cycle.
While Prince Edward Island’s size can be an obstacle in attracting larger companies, it is a definite advantage when it comes to dealing with Industry Partners.
Innovation PEI has a strong working relationship with: