HALIFAX - Businesses in Nova Scotia that spend more than $15 million in capital projects will be eligible for a tax credit in January to offset 15 per cent of their costs.
Economic Development Minister Michel Samson says the credit is aimed at attracting and retaining large manufacturers and processors.
The provincial government estimates the cost of offering the tax credit will be about $30 million annually, depending on uptake.
An existing program that allows companies that spend up to $15 million in capital projects to claim a rebate will have its cap raised from $1 million to $3 million.
Samson also introduced legislative amendments that would require the province's economic development agencies to produce five-year strategic plans, with the first one due March 1.
