PEI Rental Cost Assistance

Securing the right space can be a major hurdle for businesses looking to launch or scale operations, especially in export-focused and innovation-driven sectors. The PEI Rental Cost Assistance program helps ease that pressure by offsetting a portion of commercial lease costs for businesses establishing a new presence or expanding production in Prince Edward Island. Delivered through Innovation PEI, this incentive is designed to make it more affordable to move into suitable facilities while keeping early-stage or expansion costs under control.

The program supports a wide range of strategic industries that contribute to the province’s economic growth, including bioscience, aerospace and defence, advanced manufacturing, clean technology, information technology, and creative and cultural industries. Eligible businesses can receive a monthly rental subsidy for up to one year, based on the size of the leased space, with total support reaching roughly up to $60,000. By helping cover base rent, the program allows companies to direct more capital toward equipment, hiring, and market development during a critical growth phase.

PEI Rental Cost Assistance is currently available to businesses meeting certain requirements and is assessed as applications are received. For companies considering a move, expansion, or new facility in PEI, learning more about how this rental support works could be an important step in planning your next stage of growth.