Notes to the Corporate Scorecard

1.  Target of 15 established, with a target of 20 when including successful transactions with partners and material amendments to existing clients that have a positive net economic benefit to the province. A total of 19 transactions completed. This includes six loans, three equity investments, three retention rebates, and seven material amendments to existing clients that have a positive net economic benefit to the province.

2.   Consistent with industry reporting standards, NSBI’s approach to reporting the creation and retention of jobs and payroll is to record the project, and the forecast jobs and payroll impact, in the fiscal year in which the project is authorized and accepted by the client.

The maximum job impact is calculated by adding the maximum jobs forecast and retained jobs from projects completed in the fiscal year. The minimum jobs impact is calculated by adding the minimum jobs forecast and retained jobs from projects completed in the fiscal year. Retained jobs are those that are at risk of being terminated if the project does not occur. For the payroll metric, it is calculated in a manner similar to that described above for jobs.

Jobs (Max) = Maximum jobs + Retained jobs
Jobs (Min) = Minimum Jobs + Retained jobs
Total Payroll = Maximum payroll + Retained payroll

Forecasted jobs and payroll from investment attraction clients are determined by the investment attraction projects authorized in 2007/08.

Jobs and payroll impact from trade development clients are forecast using a metric: One incremental job created for each $90,000 in incremental export sales. The 24-month sales data reported by these clients is annualized and then further divided by $90,000 to estimate the job impact. To calculate payroll, the job figure is multiplied by the average per capita income in the province as reported by Statistics Canada. The assumption: Each forecasted job created by trade development clients has a salary equivalent to the average per capita income in the province.

Forecasted jobs and payroll from business financing and venture capital clients are determined by the business financing /venture capital projects authorized in 2007/08.

The business advisory team reports the forecast job and payroll impact from projects that have been referred to and completed through partner agencies, but which the team played a significant role by arranging financing or assisting with business planning, etc. The forecast job and payroll impact is reported by its clients.