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  • Innovation Rebate Program Disclosures - 2019/20

Innovation Rebate Program Disclosures - 2019/20

Tuesday, April 16, 2019

The following Innovation Rebate Program incentives were announced during the fiscal year of 2019-20.

April 16, 2019

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of an innovation rebate for Kenney & Ross, Limited.

The Shelburne company manufactures kosher fish gelatin and collagen products. The products are exported worldwide to more than 30 countries and used for food, pharmaceuticals, supplements and other applications. 

Kenney & Ross, Limited will proceed with a $2,547,537 capital investment to create a new packaging facility that will increase efficiency and production levels.

The company is eligible to earn a maximum innovation rebate of $636,884 upon completion of its project, based on eligible capital spending of $2,547,537.

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Quick facts

  • The Innovation Rebate Program was developed in consultation with Nova Scotia companies.
  • The Innovation Rebate Program provides financial incentives on projects that enable a company to increase innovation capacity through private-sector capital investments or adoption of new technologies and business processes.
  • The program provides a 25 per cent rebate based on eligible project costs, as defined in the Innovation Rebate Program Guidelines.
  • The total project cost must be between $2 million and $15 million. The maximum amount of eligible project costs to which the IRP rebate will be applied is $15,000,000.
  • The maximum rebate amount for an eligible project, including related parties, cannot exceed $3,750,000 over a 24-month period.
  • The Innovation Rebate works as a rebate against a company’s direct costs, and is only paid once the project is complete.
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