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  • Strategic Investment Fund disclosures - 2018/19

Strategic Investment Fund disclosures - 2018/19

Tuesday, May 22, 2018

The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2018-19. Payroll rebates are disbursed through the Strategic Investment Funds.

May 22, 2018

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for Velsoft Training Materials Inc., based in New Glasgow, Nova Scotia.

Velsoft, a fully-integrated e-learning company, has the potential to create up to a maximum of 30 new jobs related to the expansion of its virtual campus opportunities and line of business. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $4,500,000 in salaries. 

It is also estimated the new employees would contribute provincial tax revenues of $480,000 through their income and consumption taxes. As a result, the company would earn a rebate up to $315,000 over five years. 

Learn more about Velsoft.

Media Contact
Jim Fitt
Velsoft
902-755-1884
Email: jfitt@velsoft.com

May 15, 2018

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for Opus Fund Services (Canada) Limited, an independent and privately owned full-service fund administrator.

Opus Fund Services is expanding its global footprint, adding a new office in Halifax.

The company has the potential to create up to a maximum of 30 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $5,580,000 in salaries. 

It is also estimated the new employees would contribute provincial tax revenues of $627,000 through their income and consumption taxes. As a result, the company would earn a rebate up to $369,000 over five years. 

Learn more about Opus Fund Services

Media Contact
Robin Bedford 
Opus Fund Services 
312-256-9974
Email: rbedford@opusfundservices.com


Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for VistaCare Communications Services of Canada Inc.

VistaCare Communications, a full-service provider and administrator of commercial communications and building security systems, has the potential to create up to a maximum of 100 jobs under the five-year payroll rebate agreement.

With headquarters in Bedford, the company is expanding their Nova Scotia operations to support growth into new Canadian and U.S. markets.

Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $13,775,000 in salaries. It’s estimated the new employees would contribute provincial tax revenues of $1,475,000 through their income and consumption taxes. As a result, VistaCare Communications would earn up to $826,500 over five years.

Learn more about VistaCare Communications

Media Contact
Wayne Gillian 
VistaCare Communications 
902-220-6007 
Email: wayne.gillian@vistacaretech.com

Media Contact

Emily Neil
Email

902.424.3527