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  • Strategic investment funds disclosures - 2016/17

Strategic investment funds disclosures - 2016/17

Tuesday, March 21, 2017

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

March 21, 2017 

IBM Canada

Nova Scotia Business Inc. (NSBI) has approved an amendment to the existing IBM business development incentive agreement, which began in November 2012.

Four years into its eight-year payroll rebate agreement, IBM is ahead of its plan to create 500 positions.

With the amended agreement, the company is projected to create up to 250 more jobs in the province, for a total of 750 jobs over the eight-year span of the agreement. 

The amendment includes an agreed-upon focus of continued hiring of new graduates and new Nova Scotians, as well as higher agreed-upon average salaries required to earn a rebate.

Based on the new maximum growth forecast of the amended eight-year payroll rebate agreement, NSBI estimates IBM would spend a total of $251,397,422 in salaries and benefits. These IBM employees would pay direct taxes of approximately $29,264,000. As a result, over the amended eight-year agreement, IBM would be eligible to earn up to $22,633,683 through the payroll rebate, including this new extension. 

Learn more about IBM Canada and their Nova Scotia story

Media Contact: Carrie Bendzsa, IBM Canada
E-mail: carrie.bendzsa@ca.ibm.com
Phone: 1-613-356-5917

March 14, 2017 

Global Spatial Technologies Solutions Inc. (GSTS) 

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for Global Spatial Technologies Solutions Inc. (GSTS) of Ottawa.

By opening operations in Halifax, the company has the potential to create up to a maximum of 42 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates GSTS could spend $14,345,000 in salaries.

It is estimated the new employees would contribute provincial tax revenues of about $1.95 million through their income and consumption taxes. As a result, GSTS would earn up to $1,147,600 through the rebate agreement. GSTS would receive a smaller rebate if it creates fewer than 42 new jobs.

Learn more about GSTS 

Media Contact: Stephen Martins, Global Spatial Technologies Solutions Inc
E-mail: stephen.martins@gsts.ca
Phone: 1-403-992-7771 

February 28, 2017

BeyondTrust

Nova Scotia Business Inc. (NSBI) has approved an amendment to the existing BeyondTrust business development incentive agreement, which was announced April 11, 2014.

With the amended agreement, the company is projected to create 60 more jobs in the province than its original end goal, bringing the total to 160. The amendment reflects the company's workforce growth plans, and the agreed upon increase in projected average salaries for the new positions. Based on the maximum growth forecast, NSBI estimates BeyondTrust would spend about $47.6 million in salaries over the length of the agreement.

The new employees would contribute estimated provincial tax revenues of about $5.8 million through income and consumption taxes. As a result, BeyondTrust is qualified to earn up to $3,825,528 through the payroll rebate.

BeyondTrust would be eligible for a smaller rebate if it creates fewer than 160 jobs.

Learn more about BeyondTrust.


Media Contacts: Michael Yaffe, BeyondTrust
Email: myaffe@beyondtrust.com
Phone: 603-610-4272

Mike Bradshaw for BeyondTrust
Email: mikeb@connectmarketing.com
Phone: 801-373-7888
www.beyondtrust.com

August 15, 2016

Web.com

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.

Learn more about web.com.
 
Media Contact: Sarah Prince, Web.com Canada
Email: Sarah.prince@web.com
Phone: 902-266-3351
www.web.com

July 26, 2016

Surrette Battery Company Ltd.

Surrette 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.rollsbattery.com

April 15, 2016

Canadian Maritime Engineering Ltd. (CME)

CME 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: bdeveaux@cmelimited.com
Phone: 902-468-1888
www.cmelimited.com

April 15, 2016

Mobivity Holdings Corp. (Mobivity)

Mobivity, 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 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

 

Media Contact

Mel Rusinak
902.424.6390