NSBI supports a sweeter Nova Scotia

Jul 8, 2003

HALIFAX - Nova Scotia Business Inc. (NSBI) announced today that it will support Hershey Canada Inc. as it continues to build upon its Nova Scotian operations. NSBI has agreed to offer payroll rebate to the company in addition to a loan to help the company complete its $20-million expansion in Dartmouth.

As part of NSBI's four-year payroll rebate agreement with Hershey, the company is eligible to receive $750,000 should it create and maintain 100 new jobs over the course of the agreement. In addition, the company received a $480,000 term loan from NSBI to assist in the land purchase for the expansion.

Hershey is an important employer in Nova Scotia and by creating partnerships with corporations like Hershey, we can create an even stronger economy, said Cecil Clarke, Minister of Economic Development. Our province continues to build on the economic strategies that we outlined in Opportunities for Prosperity, and the continued success of Hershey is proof of the success of those strategies.

Hershey is an international leader in the chocolate confectionary industry and represents a flagship business in the manufacturing sector, one of our key growth industries, said Stephen Lund, President and CEO of Nova Scotia Business Inc. The company has invested in our province repeatedly since coming here in 1987 and every year contributes significantly to our province's exports, so in essence we're supporting Hershey's continued growth and success in Nova Scotia.

Corporately we've made another decision to invest in Nova Scotia because it offers many competitive advantages for our company, including a strong, stable workforce, competitive inputs, and an excellent transportation infrastructure, said Don Thomson, Vice President of Hershey Canada Inc. Working as partners with Nova Scotia Business Inc. gives us confidence in making these investment decisions.

Nova Scotia Business Inc. is the province's business development agency, an organization that works with companies to provide business solutions. The private sector-led agency works to attract new business to the province and help those already in Nova Scotia expand through services such as export development and financing.