Rental Incentive Assistance

For Prince Edward Island businesses planning to launch a new operation or scale up production, securing the right space can be a major early hurdle. The Rental Incentive Assistance program is designed to ease that pressure by helping cover a portion of commercial lease costs, making it more affordable to establish or expand operations within the province. Delivered by Innovation PEI, the program focuses on businesses that are building export-oriented capacity and contributing to long-term economic growth on the Island.

This support is especially relevant for companies in strategic and high-growth sectors such as bioscience, advanced manufacturing, clean technology, information and communications technology, aerospace, and creative industries. Funding is provided as a non-repayable rental subsidy that offsets part of eligible lease expenses for a defined period, helping businesses move into additional space or secure a suitable facility without taking on the full cost upfront. Projects are assessed based on their overall economic benefit, growth potential, and alignment with provincial priorities, rather than simply the size of the lease.

Applications are typically reviewed on an ongoing basis, and funding availability can vary depending on the project and space requirements. For PEI businesses considering expansion or setting up a new location, learning more about how Rental Incentive Assistance works can clarify whether this program fits your growth plans and timing.