Funding Disclosures - Strategic Investment Funds

Aug 15, 2016

The following business development incentives in the form of payroll rebates were announced during fiscal year 2016-17. Payroll rebates are disbursed through the Strategic Investment Funds.

Aug 15, 2016

Web.com 

web-com-logo

WEB.com Canada, Inc. is expanding in Nova Scotia, and has the potential to create up to a maximum of 330 jobs in its expansion of business operations in New Glasgow. Based on the maximum growth forecast of the eight-year payroll rebate agreement, NSBI estimates that WEB.com Canada, Inc. could spend $78.8 million in salaries.

It is estimated the new employees would contribute provincial tax revenues of about $8.17 million through their income and consumption taxes. As a result, the company is qualified to earn up to a maximum of $6,307,200 through the payroll rebate agreement. WEB.com Canada, Inc. would be eligible for a smaller rebate if it creates fewer than 330 new jobs. 

Media Contact: Sarah Prince, Web.com Canada
Email: web.com
Phone: 902-266-3351
www.web.com



July 26, 2016

Surrette Battery Company Ltd.


Surrette_Logo sizedSurrette Battery, a manufacturer of lead-acid batteries for railroad, marine, motive power, and renewable energy applications, has the potential to create up to a maximum of 90 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Surrette Battery could spend $11.13 million in salaries.

It is estimated that the new employees would pay provincial, personal income taxes of about $1.18 million. As a result, Surrette Battery would earn up to $810,600  through the payroll rebate, over five years.

Surrette Battery would receive a smaller rebate if it creates fewer than 90 new jobs.

Learn more about Surrette Battery's growth plans.
 
Media Contact: Jeff Myles, Surrette Battery Company Ltd.
Email: jeff@surrette.com
Phone: 902-597-4012
www.surrette.com



April 15, 2016

Canadian Maritime Engineering Ltd. (CME)


CMELOGO215X215CME Ltd., specializing in advanced manufacturing and repair, industrial services, and custom engineering for a variety of industries, has the potential to create up to a maximum of 80 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates CME Ltd. would spend $17.5 million in salaries.

The new employees would pay provincial, personal income taxes of about $1.94 million. As a result, CME Ltd. would earn up to $1.4 million through the payroll rebate, over five years.

CME Ltd. would receive a smaller rebate if it creates fewer than 80 new jobs.

Learn more about CME Ltd.'s growth plans.
 
Media Contact: Bob Deveaux, CME Ltd.
Email: cmelimited.com
Phone: 902-468-1888
www.cmelimited.com



April 15, 2016

Mobivity Holdings Corp. (Mobivity)


MOBIVITYLOGO215X215Mobivity, a mobile marketing company, 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 Mobivity would spend $5.8 million in salaries.

The new employees would pay provincial, personal income taxes of about $611,00. As a result, Mobivity would earn up to $427,500 through the payroll rebate, over five years.

Mobivity would receive a smaller rebate if it creates fewer than 40 new jobs. 

Media Contact: Jon McGinley, Mobivity
Email: jon.mcginley@mobivity.com
Phone: 1-888-407-0501 x 1228
mobivity.com



April 15, 2016

TD Insurance


TD small testTD Insurance, Canada's largest direct-response home and auto insurance group, has the potential to create up to a maximum of 300 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates TD Insurance would spend $49,712,500 in salaries.

The new employees would pay provincial, personal income taxes of about $5,211,387. As a result, TD Insurance would earn up to $3,977,000 through the payroll rebate, over five years.

TD Insurance would receive a smaller rebate if it creates fewer than 300 new jobs. 

Media Contact: Crystal Jongeward, TD Insurance
Email: crystal.jongeward@td.com
Phone: 902-308-1746
www.tdinsurance.com




The following business development incentives in the form of payroll rebates were announced during fiscal year 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: 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.
 
Media contact: Dagan Sorensen, Castle Hall
Email: 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.
 
Media contact: Mark Johnson, Vice President, Communications,
Brand & Public Affairs
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.

Media contact:  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.

Media Contact:  Ron Stewart, Track Group Analytics
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.

Media contact Lixar:  Shelley Fraser
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.

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.


July 16, 2015

IGATE Corporation

IGATE Corporation, 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.


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.


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.


Quick Facts:

  • Payroll rebates are designed in a way that the tax revenue generated for the province by the new jobs in Nova Scotia is always more than the amount spent on the rebate.
  • Payroll rebates are only disbursed after a business has generated actual payroll for the Nova Scotia economy.
  • For every dollar a company spends on the new jobs, it receives between five and ten cents back.
  • When a company submits an annual rebate claim, it must send NSBI audited information that confirms the number of jobs it created that year.


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