Great news for Canadian greenhouses: you can now invest in artificial intelligence (AI) technology to increase the profitability of your business for free.
The latest Fall Economic Statement from the Canadian Federal Government offers generous incentives for all industries, including farming. The time is now to upgrade buildings, acquire new equipment and invest in new computer/IT tools. As outlined in Chapter 3 of the statement, your greenhouse can obtain a 100% tax deductible for investments in computer software from the new Accelerated Investment Incentive.
Motorleaf's AI-automation services are custom-made software tools for your greenhouse. The Accelerated Investment Incentive will thus cover all the setup costs for developing our AI-powered, automated harvest forecast and disease scouting services. Now you will save thousands of dollars when acquiring these powerful new greenhouse technologies; you will also obtain an immediate return on investment from efficiency gains and cost savings from automating these important tasks.
What's not to love? Contact us today by filling out this form and we will get started on bringing the benefits of AI automation to your Canadian greenhouse.
In addition to artificial intelligence tools, you can benefit from diverse capital investments in farming equipment, buildings and clean energy technologies. Moreover, you can obtain subsidies that will help you export your produce to new markets around the globe.
Check out our summary below and click the subtitle to view the original statement from the government.
"... the Government proposes to introduce an Accelerated Investment Incentive to support all businesses that make capital investments. Under the Accelerated Investment Incentive, capital investments will generally be eligible for a first-year deduction for depreciation equal to up to three times the amount that would otherwise apply in the year an asset is put in use. Tripling the current first-year rate will allow businesses to recover the initial cost of their investment more quickly—reducing risk and providing businesses in Canada with a true incentive to make capital investments. The Accelerated Investment Incentive will apply to all tangible capital assets, including long-lived investments like buildings. ..."
Support to help your greenhouse export
"Expand support for agricultural exporters—To better engage with international standard-setting bodies and support efforts to meet the Government's goal of growing Canada's agri-food exports to $75 billion per year by 2025, the Government proposes to invest an additional $25 million over the next five years to enhance federal capacity to address situations where Canadian agricultural producers may be prevented from selling goods in international markets. This additional funding recognizes the agriculture sector's role as a key driver of economic growth, accounting for more than 6 per cent of Canada's GDP. The Government recently completed a successful trade mission to China, further expanding market access for Canada's agricultural producers."