Business loans, tax cuts part of new Manitoba economic development plan
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WINNIPEG – The Manitoba government is changing some business tax credits and offering a new loan program as part of its plan to boost economic development.
Premier Wab Kinew says the government is converting parts of its Manufacturing Investment Tax Credit into an immediate retail sales tax exemption on new machinery and equipment.
The change means manufacturers will save the money up front instead of waiting for a credit reimbursement.
The government is also launching a $50-million loan program for businesses that invest in productivity enhancements such as new equipment and technology.
Kinew told the Manitoba Heavy Construction Association he would like to see Manitoba become a “have” province by 2040 and no longer rely on equalization payments from the federal government.
The annual payments are aimed at helping poorer provinces, and Manitoba traditionally receives more per-capita funding than any other province west of New Brunswick.
Kinew’s economic vision includes expansion at the Port of Churchill, which the federal government is considering, and a trade corridor with the other Western provinces.
This report by The Canadian Press was first published Sept. 25, 2025