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  • Disclosures: Strategic Investment Funds 2019/20

Disclosures: Strategic Investment Funds 2019/20

Tuesday, November 12, 2019

The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2019-20. Payroll rebates are disbursed through the Strategic Investment Funds.

November 12, 2019

Nova Scotia Business Inc. (NSBI), has approved an amendment to a business development incentive agreement in the form of a payroll rebate for MUFG Fund Services Limited (Halifax) Limited.
 
The amendment will allow the company to increase its workforce. With this change, the company is projected to create 150 more jobs in the province than its original goal, bringing the total to 250.
The amendment reflects the company's workforce growth plans and agreed upon increase in projected average salaries for the new positions. Based on the maximum growth forecast, NSBI estimates MUFG would spend about $50.4 million in salaries over the length of the agreement.
 
The new employees would contribute estimated provincial tax revenues of about $6.4 million through income and consumption taxes. As a result, MUFG is qualified to earn up to $3,774,000 through the payroll rebate.
 
MUFG is eligible for a smaller rebate if it creates fewer than 250 jobs.

media contact:

Mark Lavoie
MUFG Fund Services Limited (Halifax) Limited
646-818-9233

October 29, 2019

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for L3Harris Technologies Inc., in Enfield.
 
L3Harris is a leading provider of in-service support, with over 50 years of experience in the aerospace and defence markets. The company provides core functions, including the complete spectrum of supply chain management, integrated logistics support, software and cybersecurity and systems engineering.
 
L3Harris has the potential to create up to 75 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend $18 million in salaries.
 
It also estimated that the new employees would contribute provincial tax revenues of around $2.3 million through their income and consumption taxes. As a result, the company would earn a rebate of up to $1.3 million over five years.
 
The company will be eligible for a smaller rebate if it creates less than 75 new jobs.
 
media contact:
Josée Gaulin
                L3Harris Technologies Inc.
                450-476-4111
                Email: Josee.Gaulin@L3Harris.com

 

September 17, 2019

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for East Coast Metal Fabrication (2015) Inc. (ECMF).
Located in Edwardsville, Cape Breton Regional Municipality, ECMF is a custom metal fabricator that services the heavy and light metal fabrication markets as well as the oil, mining and marine industries throughout Canada and internationally.
ECMF has the potential to create up to 80 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $9.45 million in salaries.
It is also estimated the new employees would contribute provincial tax revenues of $1.2 million through their income and consumption taxes. As a result, the company would earn a rebate up to $680,400 over five years.
ECMF will be eligible for a smaller rebate if it creates fewer than 80 new jobs.
 
media contact: Joe Hines
East Coast Metal Fabrication
902-564-5600
 
July 23, 2019
Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for VERB Interactive Inc (VERB).
Established in Halifax in 2004, VERB is a full-service digital marketing agency serving leading global brands in the travel and hospitality industry. The company is expanding its Halifax operations and has a second location in Victoria, B.C.
VERB has the potential to create up to 130 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $24.3 million in salaries.
It is also estimated the new employees would contribute provincial tax revenues of $3.113 million through their income and consumption taxes. As a result, the company would earn a rebate up to $1.458 million over five years.
VERB will be eligible for a smaller rebate if it creates fewer than 130 new jobs.
 
Media contact:
Andy MacLellan
VERB Interactive Inc. 
902-478-8729
 
April 2, 2019
Nova Scotia Business Inc. (NSBI) has approved two business development incentives in the form of payroll rebates for Introhive Services (NS) Inc. and PitchPerfect Software Inc. doing business as Proposify, to expand their operations in Halifax.
Introhive's cloud-based software platform analyzes relationships between an organization's employees and customers, colleagues, and friends, including social media, email, electronic calendars and contacts. The software then creates a company-wide view of relationships that helps businesses improve sales and marketing. 
Introhive also has offices in Fredericton, Saint John, Chicago, London, U.K. and Chennai, India.
The company has the potential to create up to 66 jobs in business development and events, data analysis and sales under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $11,460,000 in salaries.  
It is also estimated that new employees would contribute provincial tax revenues of $1,472,000 through their income and consumption taxes. As a result, the company would earn a rebate up to $691,800 over five years. 
Introhive Services (NS) Inc. would be eligible for a smaller rebate if it creates fewer than 66 new jobs.  
 
media contact: Daniel Dowling
Introhive Director of Marketing
630-664-3186
 
Proposify is an online business proposal company that streamlines the process of creating, sending, and closing proposals, quotes, contracts and other sales documents. The company exports its software service to almost 8,000 clients outside Nova Scotia.
Proposify has the potential to create up to 58 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $16,320,000 in salaries.
It is also estimated the new employees would contribute provincial tax revenues of $1,896,000 through their income and consumption taxes. As a result, the company would earn a rebate up to $1,057,400 over five years.
Proposify would be eligible for a smaller rebate if it creates fewer than 58 new jobs.
 
media contact: Jennifer Faulkner
Proposify
902-476-8596

 

For media queries contact:
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