Slyce Holdings Inc., founded in 2012 by the Business Instincts Group of Calgary, is known for its visual purchasing platform that allows consumers to snap pictures of real-world items using their smartphones and find direct or close matching products that they can purchase.
"We are incredibly excited to grow Slyce in Cape Breton. Our facility and team are a key step toward our ultimate goal of building the next great Canadian technology company," said Mark Elfenbein, Slyce president and CEO.
Nova Scotia Business Inc. (NSBI) has signed a five-year payroll rebate agreement with Slyce to encourage the company to expand their operation in New Waterford.
Slyce must create at least forty full-time equivalent positions in the first year. The company can then earn a rebate on payroll for up to 450 new positions over the next five years.
If Slyce creates 450 new jobs, the company would add more than $62 million in salaries to New Waterford, and employees would pay provincial personal income taxes of about $6.2 million. As a result, the company can earn up to $4,433,250 in payroll rebates through NSBI's Strategic Investment Fund.
Cape Breton Regional Municipality Mayor Cecil Clarke said Slyce is an exciting, innovative company.
"We are pleased that they have chosen Cape Breton Regional Municipality as the place to build their brighter future," said Mr. Clarke. "We welcome the continued growth of this company as our region strives to become the most business- and development-friendly municipality in Atlantic Canada."
The majority of jobs created would be for data specialists and customer support personnel.
"Slyce is a great company leading innovation in visual search technology for retailers," said Gerald Lawson, director, Information and Communications Technology, NSBI. "Their presence contributes significantly to the province's IT sector and further develops the unique technology offerings emerging out of Cape Breton today. We have been working with Slyce to make Nova Scotia the most attractive location in North America for them to grow their business."
Slyce was named as one of the "Top 25 Canadian Up and Coming ICT Companies" in the 2014 Edition of the Branham300.
For more information on Slyce, visit http://www.slyce.it