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  • Strategic Investment Fund disclosures - 2019/20

Strategic Investment Fund disclosures - 2019/20

Tuesday, July 23, 2019

The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2019-20. Payroll rebates are disbursed through the Strategic Investment Funds.

July 23, 2019

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for VERB Interactive Inc (VERB).

Established in Halifax in 2004, VERB is a full-service digital marketing agency serving leading global brands in the travel and hospitality industry. The company is expanding its Halifax operations and has a second location in Victoria, B.C.

VERB has the potential to create up to 130 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $24.3 million in salaries.

It is also estimated the new employees would contribute provincial tax revenues of $3.113 million through their income and consumption taxes. As a result, the company would earn a rebate up to $1.458 million over five years.

VERB will be eligible for a smaller rebate if it creates fewer than 130 new jobs.

Media contact:
Andy MacLellan
VERB Interactive Inc. 
902-478-8729

April 2, 2019

Nova Scotia Business Inc. (NSBI) has approved two business development incentives in the form of payroll rebates for Introhive Services (NS) Inc. and PitchPerfect Software Inc. doing business as Proposify, to expand their operations in Halifax.

Introhive's cloud-based software platform analyzes relationships between an organization's employees and customers, colleagues, and friends, including social media, email, electronic calendars and contacts. The software then creates a company-wide view of relationships that helps businesses improve sales and marketing. 

Introhive also has offices in Fredericton, Saint John, Chicago, London, U.K. and Chennai, India.

The company has the potential to create up to 66 jobs in business development and events, data analysis and sales under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $11,460,000 in salaries.  

It is also estimated that new employees would contribute provincial tax revenues of $1,472,000 through their income and consumption taxes. As a result, the company would earn a rebate up to $691,800 over five years. 

Introhive Services (NS) Inc. would be eligible for a smaller rebate if it creates fewer than 66 new jobs.  

media contact: Daniel Dowling
Introhive Director of Marketing
630-664-3186

 

Proposify is an online business proposal company that streamlines the process of creating, sending, and closing proposals, quotes, contracts and other sales documents. The company exports its software service to almost 8,000 clients outside Nova Scotia.

Proposify has the potential to create up to 58 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $16,320,000 in salaries.

It is also estimated the new employees would contribute provincial tax revenues of $1,896,000 through their income and consumption taxes. As a result, the company would earn a rebate up to $1,057,400 over five years.

Proposify would be eligible for a smaller rebate if it creates fewer than 58 new jobs.

media contact: Jennifer Faulkner
Proposify
902-476-8596

 

For media queries contact:
902.424.3527