Disclosures: Strategic Investment Funds 2026/27

The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2026/27. Payroll rebates are disbursed through the Strategic Investment Funds.

Tuesday, May 5, 2026 

Invest Nova Scotia (INS) has approved a business development incentive in the form of a payroll rebate for Petra Funds Group.

Petra Funds Group is a U.S.-based fund administrator that supports private equity, private credit, and venture capital firms with back- and middle-office services. Petra has offices in New York (headquarters), Boston, Los Angeles, Houston, London, Saratoga, Salt Lake City, and Amsterdam, serving clients worldwide, and is expanding to establish a new office in Halifax.

As per the five-year payroll agreement, Petra Funds Group has the potential to create 72 incremental full-time employment positions within Nova Scotia. Based on the maximum growth forecast of the agreement, Invest Nova Scotia estimates the company could spend up to $20,600,000 in salaries and benefits.

Based on this forecast, it is also estimated that the new employees would contribute provincial tax revenues of around $2,742,487 through their income and consumption taxes. As a result, the company could potentially earn a rebate of up to $1,682,000 over five years.

Payroll rebate agreements are negotiated to help attract export-oriented companies that bring new revenue into Nova Scotia, create high-value jobs, and strengthen the province’s strategic industries.

About Invest Nova Scotia
Invest Nova Scotia is the business development agency of the Province of Nova Scotia. We help businesses start, scale, and succeed. Invest Nova Scotia leads efforts to attract global firms expanding into Nova Scotia, and we offer programs, incentives, and investment to ensure companies grow across the province. As part of this work, we focus on six priority sectors — defence and aerospace, energy and cleantech, natural resources, fisheries and agriculture, housing and construction, and AI and the digital economy.

Media Contact:
Michelle Diller
Director – Head of Marketing, Petra Funds Group
mdiller@petrafundsgroup.com