• 1 800 260 6682
  • GTranslate

Other ways to reach us: 1.800.260.6682 | 902.424.8670 | info@investnovascotia.ca

  • Innovation Rebate Program Disclosures - 2024/25

Innovation Rebate Program Disclosures - 2024/25

Wednesday, May 22, 2024

The following Innovation Rebate Program incentives were announced during the fiscal year of 2024-2025.

Wednesday, May 22, 2024  

Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for King Freight Lines Limited in Pictou, Pictou County.  

King Freight Lines started nearly 50 years ago in the transportation business with one truck and currently operates a fleet of 100 Class-8 trucks, and 265 trailers. The company specializes in full-load, dry van services within Nova Scotia, and across Canada and the United States.   

King Freight Lines will be proceeding with a $9,886,000 capital investment in new infrastructure and equipment to transition away from fossil fuel reliance. The project includes construction of a new 7,000 square foot trailer repair and maintenance shop, construction of a new 15,600 square foot operations centre, and the establishment of a storage/refueling facility to support fueling of dual-fuel and hydrogen trucks. The installation of a solar panel array is also expected to result in a significant reduction of greenhouse gases.   

The company is eligible to earn a maximum innovation rebate of $2,471,500 upon completion of its project, based on eligible capital spending of $9,886,000. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.   

Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.    

Media Contact: 
Ira MacInnis, CPA, CA 
Director, King Freight Lines Ltd. 
902.759.0093 
ira.macinnis@kingfreight.com


Tuesday, April 30, 2024 
 
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Electrophonic-IC Inc. operating as InPho in Halifax, Nova Scotia. 
 
InPho, established in Ottawa in 2013, has been dedicated to the development of indium phosphide lasers crucial for cloud computing since 2017. With offices in Ottawa and California, the company is now expanding its operations with a new facility in Halifax. 
 
The proposed project involves the construction of a 3,500 square foot test and reliability facility in Halifax. InPho will be proceeding with a $2,719,529 capital investment to establish this new facility, focused on enhancing back-end chip production. This expansion will result in a 100 percent increase of in-house capacity, enabling the company to significantly scale-up its product line. In the first year, InPho expects to be producing approximately 18,000,000 units of the new line of chips. The project also holds the potential to generate new revenue streams in the future by offering similar services to other North American companies. 
 
The company is eligible to earn a maximum innovation rebate of $679,883 upon completion of its project, based on eligible capital spending of $2,719,529. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs. 
 
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.  
 
Media Contact: 
Rob Graham
Chief Financial Officer, EVP
613.686.6770 ext. 222
rob.graham@inpho.io

For media inquiries contact:
902.424.3527