Innovation Rebate Program Disclosures - 2024/25
Tuesday, July 9, 2024
The following Innovation Rebate Program incentives were announced during the fiscal year of 2024-2025.
Tuesday, July 9, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Sunrise Foods Incorporated in Dartmouth, HRM.
Sunrise Foods is a private label snack food company for grocery retailers in the Canadian market. The company has been in operation since 1995 and produces specific snack foods, including: cheese with crackers, breadsticks, and pretzels. The company will be proceeding with a $954,320 capital investment in new equipment and building retrofits.
The project includes the following details: increasing the speeds of current production lines, construction of a flour silo, construction of a second processing room, enhancements to the company’s quality control system, and a new conveyor system. Through the completion of this project, the company anticipates increasing production capacity by 40 percent along with a significant decrease in waste amounts.
The company is eligible to earn a maximum innovation rebate of $238,580 upon completion of its project, based on eligible capital spending of $954,320. 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 percent 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:
Kelvin Sams
President, Sunrise Foods Inc.
ksams@snaks.com
902.830.8058
Tuesday, June 18, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Vale Packaging Limited in Hubbards, Lunenburg County.
Vale Packaging is a design and manufacturing company offering eco-friendly plastic and paper products. Vale operates based on a minimal carbon footprint and zero-waste manufacturing process. The company is undertaking a project to purchase new machinery, tools, and building improvements to increase production capacity. The company will be proceeding with a $3,200,000 capital investment in new equipment and building retrofits.
The project includes purchasing thermoforming machines and ancillary equipment for material handling, production support, tooling, and prototyping. The project’s building improvements will also include changes to electrical networks to manage increased load capacity, and a building expansion. Through the completion of this project, the company anticipates to double production capacity, and to enter new market segments.
The company is eligible to earn a maximum innovation rebate of $800,000 upon completion of its project, based on eligible capital spending of $3,200,000. 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 percent 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:
Uriel Guerrero
Director of Operations, Vale Packaging Ltd.
uriel@valepackaging.ca
902.275.7747
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