The biggest challenge to investment in the manufacturing sector is return on investment, and part of the component that goes into that calculation would be the tax rate applied to the profit. 3M Company Canada competes globally with other 3M subsidiaries for our new investment. If you have a patent box in any particular country and if it results in a lower tax rate for that particular manufacturing line, it improves that return on investment calculation and puts you in the running to get that manufacturing mandate in your country. It does work, even in multinational situations.
On October 19th, 2017. See this statement in context.