Canada Revenue Agency

Canada Revenue Agency

July 08, 2009 09:30 ET

Minister Blackburn Delivers $1.9 Million in Research and Development Investment Tax Credits to Stern Laboratories

HAMILTON, ONTARIO--(Marketwire - July 8, 2009) - The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met today with Mr. Gordon Hadaller, President of Stern Laboratories, and personally delivered more than $1.9 million in scientific research and experimental development (SR&ED) investment tax credits earned by the company.

During a tour of the company's facility in Hamilton, Minister Blackburn met with company officials to discuss the importance of the SR&ED program as the largest source of federal government support for industrial research and development.

"The Government is supporting innovative Canadian businesses like Stern Laboratories which provides expert scientific and laboratory services to the nuclear industry," said Minister Blackburn. "These businesses are crucial to the long-term growth of our economy, providing sustainable jobs in our communities and helping improve the quality of life for all Canadians," added Minister Blackburn.

SR&ED investment tax credits support Stern Laboratories in the research and development of innovative and experimental practices, instrumentation, and facilities for the world nuclear industry.

"The SR&ED program shows the Government's commitment to supporting research and development in Canada," said Mr. Hadaller, President of Stern Laboratories. "The SR&ED program helps Stern Laboratories maintain a strong research and development program focused on enhancing our experimental facilities where reactor heat transport systems, safety systems, and fuel and fuel channel components are developed and qualified," he added. "With support from the SR&ED program, we can provide best in class services and products to the industry through continuous innovation, maintaining and expanding employment for highly qualified staff in Canada."

The SR&ED program is a federal tax incentive program administered by the Canada Revenue Agency, which encourages Canadian businesses of all sizes, and in all sectors, to conduct research and development in Canada. The SR&ED program gives claimants cash refunds and/or tax credits for their expenditures on eligible work done in Canada.

For more information on the SR&ED program, and details on how to apply, go to www.cra.gc.ca/sred.

Contact Information

  • Canada Revenue Agency
    Noel Carisse
    Media Relations
    613-952-9184
    or
    Office of the Minister of National Revenue
    Natalie Boileau
    Acting Director of Communications
    613-995-2960
    or
    Stern Laboratories
    Gordon Hadaller
    President
    905-548-5303
    905-545-5399 (FAX)