Disclosures: Strategic Investment Funds 2024/25
Tuesday, July 9, 2024
The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2024-25. Payroll rebates are disbursed through the Strategic Investment Funds.
Tuesday, July 9, 2024
Invest Nova Scotia (INS) has approved a business development incentive in the form of a payroll rebate for Altudo LLC. Altudo is continuing its global expansion by establishing a new office in Halifax.
Founded in 1999, Altudo is a global digital marketing and technology consulting company. The company is focused on collecting analytics data, creating integrated marketing frameworks, and establishing customer engagement platforms. Altudo has nine offices globally including Canada, India, the United States, and more.
As per the five-year payroll agreement, Altudo has the potential to create 60 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 $13,490,000 in salaries and benefits.
Based on this forecast, it is also estimated that the new employees would contribute provincial tax revenues of around $1,802,968 through their income and consumption taxes. As a result, the company could potentially earn a rebate of up to $1,067,800 over five years.
Media Contact:
Ahmad Rab
Senior Associate, Marketing
+91 8299646989
ahmad.rab@altudo.co
Friday, June 28, 2024
Invest Nova Scotia has approved a business development incentive in the form of a payroll rebate for Royal Bank of Canada.
Royal Bank of Canada, founded in 1864, is a Canadian multinational financial services company and the largest bank in Canada as measured by market capitalization. They are undergoing an expansion in Nova Scotia.
As per the six-year payroll rebate agreement, Royal Bank of Canada has the potential to create up to 1,000 incremental full-time employment positions. Based on the maximum growth forecast of the agreement, Invest Nova Scotia estimates that the company could spend up to $366 million in new salaries and benefits.
Based on this forecast, it is also estimated that the new employees would contribute provincial tax revenues of around $49.5 million through their income and consumption taxes. As a result, the company could earn a rebate of up to $37,883,447 over six years.
Media Contact:
Briana D’Archi
RBC Corporate Communications
briana.darchi@rbc.com
416.704.1346
Tuesday April 30, 2024
Invest Nova Scotia (INS) has approved a business development incentive in the form of a payroll rebate for Strategic Risk Solutions Inc. (SRS), operating as SRS Managers (Canada) Limited. SRS is establishing a new office in Halifax, as it continues to expand globally.
Founded in 1993, SRS is a leading independent captive insurance management firm, offering captive management and consulting services including financial reporting, regulatory compliance, and underwriting. SRS has grown in the past four years, expanding in Europe, South America, and Canada.
As per the five-year payroll rebate agreement, SRS has the potential to create 30 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 $6,825,000 in salaries and benefits.
Based on this forecast, it is also estimated that the new employees would contribute provincial tax revenues of around $876,567 through their income and consumption taxes. As a result, the company could potentially earn a rebate of up to $555,750 over five years.
Media Contact:
Sandra St. Onge
SRS Marketing Manager
Sandra.st.onge@strategicrisks.com
781.666.5011
www.strategicrisks.com