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  • Disclosures: Strategic Investment Funds - 2015/16

Disclosures: Strategic Investment Funds - 2015/16

Tuesday, February 2, 2016

The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2015-16. Payroll rebates are disbursed through the Strategic Investment Funds.

February 2, 2016

Oxford Frozen Foods Ltd.

Oxford Frozen FoodsOxford Frozen Foods Ltd, a Nova Scotia-based food producer, processor, manufacturer and exporter, has the potential to create up to a maximum of 110 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Oxford Frozen Foods would spend $18.7 million in salaries.

In addition to the economic benefit to rural Nova Scotia associated with $18.7 million in wages, the new employees are expected to pay provincial, personal income taxes of about $1,887,000. Under the payroll rebate agreement, Oxford Frozen Foods has an opportunity to earn a rebate up to a maximum of $1,486,800.

Oxford Frozen Foods would receive a smaller rebate if it creates fewer than 110 new jobs.

Learn more about Oxford Frozen Foods' growth plans.

Media contact: Jordan Burkhardt, Oxford Frozen Foods
Email: jordan.burkhardt@oxfordfrozenfoods.com
Phone: 902-447-2100 x 2064
www.oxfordfrozenfoods.com

January 5, 2016

Castle Hall Alternatives, Inc.

Nova Scotia Business Inc. (NSBI) has approved a business development incentive, in the form of a CastleHallpayroll rebate, for Entreprise Castle Hall Alternatives, Inc. (Castle Hall), headquartered in Montreal, PQ. Castle Hall, a provider of operational due diligence to the investment industry, has the potential to create up to a maximum of 40 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Castle Hall would spend $4.9 million in salaries.

The new employees would pay provincial, personal income taxes of about $507,958. As a result, Castle Hall would earn up to $313,200 through the payroll rebate, over five years.

Castle Hall would be eligible for a smaller rebate if it creates fewer than the 40 new jobs.

Learn more about Castle Hall alternatives, Inc.

Media contact: Dagan Sorensen, Castle Hall
Email: dsorensen@castlehallalternatives.com
Phone: 902-429-8880 x 234
www.castlehallalternatives.com

Learn why Castle Hall Alternatives chose Nova Scotia as a key location for their business.

December 22, 2015

Butterfield Bank

The Bank of N.T. Butterfield & Son Limited (Butterfield Bank) of Bermuda, a provider ButterfieldLogoof specialized international financial services, has the potential to create up to a maximum of 50 new jobs for its shared services centre in Nova Scotia. Based on the maximum growth forecast of the six-year payroll rebate agreement, NSBI estimates Butterfield Bank would spend $10.5 million in salaries.

The new employees would pay provincial, personal income taxes of about $1.144 million. As a result, Butterfield Bank would earn up to $840,000 through the payroll rebate, over six years.

Butterfield Bank would be eligible for a smaller rebate if it creates fewer than the 50 new jobs.

Learn more about Butterfield Bank.

Media contact: Mark Johnson, Vice President, Communications, Brand & Public Affairs
Email: Mark.Johnson@Butterfieldgroup.com
Phone: 441.299.1624
www.ky.butterfieldgroup.com/

December 8, 2015

Minacs Group Inc. (Minacs)

The Minacs Group Inc. (Minacs), an outsourcing business solutions company, MinacsLogohas the potential to create up to a maximum of 50 new Big Data Analytics jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Minacs would spend $6.48 million in salaries.

The new employees would pay provincial, personal income taxes of about $671,000. As a result, Minacs would earn up to $506,250 through the payroll rebate, over five years.

Minacs would be eligible for a smaller rebate if it creates fewer than the 50 new jobs.

Learn more about Minacs Group Inc

Media contact: pooja.srivastava@minacs.com
Phone: 248.218.6392
www.minacs.com

December 8, 2015

Track Group Analytics (Track Group)

Track Group Analytics (Track Group), a tech and data analytics company, has TrackGroupLogothe potential to create up to a maximum of 60 new jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Track Group would spend $13.65 million in salaries.

The new employees would pay provincial, personal income taxes about $1.548 million. As a result, Track Group would earn up to $1,060,500 through the payroll rebate, over five years.

Track Group would be eligible for a smaller rebate if it creates fewer than the 60 new jobs.

Learn more about Track Group Analytics

Media Contact: Ron Stewart, Track Group Analytics
Email: ron.stewart@trackgrp.com
Phone: 902.407.3191
www.trackgrp.com

December 1, 2015

Lixar I.T. Inc.

Lixar I.T. Inc. (Lixar), a mobile application solutions, bLixarig data analytics, cloud services and specialized software design company, has the potential to create up to a maximum of 40 new jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Lixar would spend $6.9 million in salaries.

The new employees would pay provincial, personal income taxes of about $752,000. As a result, Lixar would earn up to $552,000 through the payroll rebate, over five years.

Lixar would be eligible for a smaller rebate if it creates fewer than the 40 new jobs.

Learn more about Lixar I.T. Inc

Media contact Lixar: Shelley Fraser
Email: sfraser@lixar.com
www.Lixar.com

November 24, 2015

ResMed

ResMed, a global health care technology company, has the potential to createResMedLogo150x150 up a maximum of 40 new jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates ResMed would spend $11.25 million in salaries.

The new employees would pay provincial, personal income taxes of about $1.3 million. As a result, ResMed would earn up to $787,500 through the payroll rebate over five years. ResMed is eligible for a smaller rebate if it creates fewer than the 40 new jobs.

Learn more about ResMed

Media Contact: Alison Graves
Phone: 1.858.836.6789
www.ResMed.com

September 9, 2015

Conifer Financial Services

Conifer Financial Services, an international asset services firm, is expanding its Nova Scotia operations which is its global center for Conifermiddle-office and fund accounting services and has the potential to create up to a maximum of 350 new jobs.

Based on the maximum growth forecast of the seven-year payroll rebate agreement, NSBI estimates Conifer would spend $60.75 million in salaries.

The new employees would pay provincial, personal income taxes of about $6.4 million. As a result, Conifer would earn up to $5,163,750, over the seven years.

Conifer is eligible for a smaller rebate if it creates fewer than the 350 new jobs.

Learn more about Conifer Financial Services.

July 16, 2015

IGATE Corporation

IGATE Corporation, as part of parent company Capgemini, an integrated technology and operations-based solutions IGATE LOGOprovider, is expanding in Dartmouth, and has the potential to create up to a maximum of 300 new jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates IGATE would spend $44.29 million in salaries.

The new employees would pay provincial, personal income taxes of about $4.55 million. As a result, IGATE would earn up to $3,422,800 through the payroll rebate, over five years.

IGATE is eligible for a smaller rebate if it creates fewer than the 300 new jobs.

Learn more about IGATE Corporation.

June 23, 2015

Global Relay

Global Relay is the leading provider of cloud-based electronic message Global-Relayarchiving, supervision and solutions for the global financial sector, delivering services to 20,000 customers in 90 countries. Global Relay is expanding into Nova Scotia and has the potential to create up to a maximum of 150 new jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Global Relay would spend $24.5 million in salaries.

The new employees would pay provincial, personal income taxes of about $2,874,000 million. As a result, Global Relay would earn up to $2,032,800 through the payroll rebate, over five years.

Global Relay is eligible for a smaller rebate if it creates fewer than the 150 new jobs.

Learn more about Global Relay

May 27, 2015

FCV Technologies Ltd.

FCV Technologies Ltd. (FCV), headquartered in Vancouver, designs and builds digital strategies and solutions and is expanding in Nova Scotia with the potential to create FCVlogoup to a maximum of 40 new jobs. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates FCV would spend $16 million in salaries.

The new employees would pay provincial, personal income taxes of about $1.7 million. As a result, FCV would earn up to $1,287,000 through the payroll rebate, over five years.

FCV is eligible for a smaller rebate if it creates fewer than the 40 new jobs.

Learn more about FCV Technologies Ltd

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