Canada Revenue Agency

Canada Revenue Agency

June 30, 2009 11:08 ET

Minister Blackburn Emphasizes the Importance of the $1.1 Million Received by IPEX Inc. in Research and Development Investment Tax Credits

MONTREAL, QUEBEC--(Marketwire - June 30, 2009) - The Honourable Jean-Pierre Blackburn, Minister of National Revenue and Minister of State (Agriculture and Agri-Food), met with Mr. Pierre Coulombe, Senior Operations Manager of IPEX Inc., and personally delivered today more than $1,1 million in scientific research and experimental development (SR&ED) investment tax credits earned by the company this year.

During a tour of the company's facility in Montreal, 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 IPEX Inc. which designs world-leading pioneering products" said Minister Blackburn. "These businesses are crucial to the long-term growth of our economy, providing quality jobs in our communities and helping improve the quality of life for all Canadians." added Minister Blackburn.

SR&ED investment tax credits support IPEX Inc. in the research and development of one of the world's most diverse lines of integrated thermoplastic piping systems-pipe, valves, fittings, auxiliary components and tools-all engineered from the ground up to handle the full range of today's municipal, industrial, commercial and residential applications.

"The SR&ED program shows the Government's commitment to supporting research and development in Canada," said Mr. Coulombe, Senior Operations Manager for IPEX Inc. "The SR&ED program helps IPEX maintain a strong research and development program focused on improving what is one of the world's most diverse lines of integrated thermoplastic piping systems. Investments in SR&ED have enabled IPEX Inc. to pioneer many industry breakthroughs - such as the world's largest diameter PVC pressure pipe and fittings, and large diameter ribbed pipe."

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 Scientific Research and Experimental Development (SR&ED) Tax Incentive Program (http://www.cra-arc.gc.ca/txcrdt/sred-rsde/menu-eng.html).

Contact Information

  • Canada Revenue Agency
    Noel Carisse
    Media Relations
    613-952-9184
    or
    IPEX Inc.
    Pierre Coulombe
    Senior Operations Manager
    514-769-3445 ext. 308
    or
    Office of the Minister of National Revenue
    Natalie Boileau
    Acting Director of Communications
    613-995-2960