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  • Disclosures: Strategic Investment Funds 2021/22

Disclosures: Strategic Investment Funds 2021/22

Tuesday, March 15, 2022

The following business development incentives in the form of payroll rebates were announced during the fiscal year of 2021-22. Payroll rebates are disbursed through the Strategic Investment Funds. 

Tuesday March 15, 2022  

Invest Nova Scotia (INS) has an agreement with CGI Inc. in the form of a payroll rebate.

CGI is a Canadian company and among the largest independent IT and business consulting services firms in the world. With 82,000 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities to help clients digitally transform their organizations and accelerate results. CGI joined the Nova Scotia community in 1994 when it opened an office in Halifax.  

CGI is planning to expand in the coming years. As per a six-year payroll agreement signed between NSBI and the company, CGI has the potential to create 210 more jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $50,625,000 in salaries and benefits. 

Based on this forecast, it is also estimated that the new employees would contribute provincial tax revenues of around $6,498,000 through their income and consumption taxes. As a result, the company could earn a rebate of up to $4,556,250 over six years.  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:  Derek Marinos  Email: derek.marinos@cgi.com   Phone: (514) 210-5141 

Tuesday, January 18, 2022

Nova Scotia Business Inc. (NSBI) has approved two business development incentives in the form of payroll rebates for Cognizant Technology Solutions Corporation.  

Founded in 1994, Cognizant is one of the world’s leading professional services companies, helping clients modernize their business and operating models for the digital era. Cognizant’s clients include some of the world’s most recognizable brands across banking and financial services, healthcare, life sciences, manufacturing, technology, retail, and other industries. Cognizant is headquartered in the United States and has locations across 37 countries worldwide, including four offices in Ontario. The company is establishing a new Halifax office.  

1. As per the terms of the first, seven-year payroll agreement:  

Cognizant has the potential to create 1,000 Information, Communication and Technology (ICT) jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $297,375,000 in salaries and benefits.  

It is also estimated that, through this first agreement, the new employees would contribute provincial tax revenues of around $38,090,000 through their income and consumption taxes. As a result, the company could earn a rebate of up to $24,979,500 over seven years.  

2. As per the terms of the second, five-year payroll agreement:  

Cognizant has the potential to create 250 Business Process Outsourcing (BPO) jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $29,997,540 in salaries and benefits.  

It is also estimated that, through this second agreement, the new employees would contribute provincial tax revenues of around $3,908,000 through their income and consumption taxes. As a result, the company could earn a rebate of up to $2,031,315 over five years. 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:   Josh Blumenthal   Email: Joshua.Blumenthal@Cognizant.com  Phone: (267) 244-2841  

Tuesday, December 14, 2021

Invest Nova Scotia (INS) has an agreement with IBM Canada in the form of a payroll rebate.

IBM Canada is a wholly owned Canadian subsidiary of International Business Machines Corporation (“IBM”), a multinational technology company headquartered in Armonk, New York, with operations in over 170 countries. IBM Canada officially opened its first Canadian Client Innovation Centre in Bedford, Nova Scotia in March 2013. The company is expanding its Nova Scotia centre and growing its consulting team. 

As per the five-year payroll agreement, IBM Canada has the potential to create 350 jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $102,570,000 in salaries and benefits.

Based on this forecast, it is also estimated that the new employees would contribute provincial tax revenues of around $13,202,000 through their income and consumption taxes. As a result, the company could earn a rebate of up to $9,397,440 over five years. 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: Ruhee Dhar Email: ruhee@ibm.com Phone: (905) 316-5000

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Invest Nova Scotia (INS) has an agreement with MobSquad in the form of a payroll rebate.

MobSquad is an innovative Canadian business that provides software development outsourcing services to US-based technology start-ups that are facing a growing engineering talent gap. MobSquad currently has four offices in Calgary, Vancouver, Toronto, and Halifax. It is expanding its Halifax office.

As per the five-year payroll agreement, MobSquad has the potential to create 50 jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $12,240,000 in salaries and benefits.

It is also estimated that the new employees would contribute provincial tax revenues of around $1,605,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $1,060,200 over five years. 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: Arif Khimani Email: arif@mobsquad.io Phone: 1-647-982-7786

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Invest Nova Scotia (INS) has an agreement with Admiral Insurance Services in the form of a payroll rebate.

Founded in 1993, Admiral Insurance Services is a United Kingdom (UK) based automotive and household insurance provider. It provides insurance to more than seven million customers in the UK.

Admiral’s Halifax office opened in 2007 and has since expanded to more than 400 employees. The company is expanding its presence in Nova Scotia.

As per the five-year payroll agreement, Admiral Insurance Services has the potential to create 300 jobs. Based on the maximum growth forecast of the agreement, it is estimated that the company could spend up to $36,000,000 in salaries and benefits.

It is also estimated that the new employees would contribute provincial tax revenues of around $4,693,000 through their income and consumption taxes. As a result, the company could earn a rebate of up to $2,400,000 over five years. 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: Kyle Davis Email: kyle.davis@admiralgroup.co.uk Phone: 902-817-9249

November 30, 2021

Invest Nova Scotia (INS) has an agreement with FreshBooks in the form of a payroll rebate.

Founded in 2003, FreshBooks is an accounting software company primarily used for small and medium-sized businesses. More than 24 million people in over 160 countries have used FreshBooks. The company has a web-based model which can be accessed easily through desktop and mobile devices to provide invoicing, expenses, payments, and financial reporting. The company is headquartered in Toronto, Ontario and has offices in Canada, USA, Mexico, Croatia, Germany and the Netherlands. The company is hiring technical and support staff across the province of Nova Scotia who can work remotely.

As per the five-year payroll agreement, FreshBooks has the potential to create 50 jobs. Based on the maximum growth forecast of the agreement, it is estimated that the company could spend up to $12,400,000 in salaries and benefits.

It is also estimated that the new employees would contribute provincial tax revenues of around $1,599,000 through their income and consumption taxes. As a result, the company could earn a rebate of up to $888,000 over five years. 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: Megan Shay  Email: megan.shay@freshbooks.com Phone: 647-460-7001

October 19, 2021

Invest Nova Scotia (INS) has an agreement with CPQi Canada Inc. in the form of a payroll rebate.

Founded in 2006, CPQi Canada is a subsidiary of the CPQi Group, a global financial technology company specializing in managed services and transformational change for financial institutions. CPQi Canada has offices in Halifax and maintains its headquarters in Toronto. The company is expanding its Halifax office. 

As per the five-year payroll agreement, CPQi Canada has the potential to create 140 jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $27,300,000 in salaries and benefits.

It is also estimated that the new employees would contribute provincial tax revenues of around $3,499,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $1,911,000 over five years. 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: Deborah Boyland  Email: dboyland@cpqi.com Phone: +1 647 346 2773

Tuesday, August 31, 2021

Invest Nova Scotia (INS) has an agreement with Ocean Choice International in the form of a payroll rebate. 

Ocean Choice is a family-owned and operated Newfoundland and Labrador Company. It is a fully vertically integrated fishing business that holds quota ownership, a fishing fleet, processing facilities and sells globally. Ocean Choice is headquartered in St. John’s, NL and it has operations throughout Newfoundland and Nova Scotia and sales offices in Europe, China, Japan, Canada and the USA. Through a subsidiary company, Ocean Choice is creating a new seafood distribution and highly automated retail packing facility in Dartmouth, NS. 

The new operation has the potential to create up to 120 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $22,440,000 in salaries.  

It also estimated that the new employees would contribute provincial tax revenues of around $2,892,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $1,412,400 over five years.  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:  Cara Pike Email: cpike@oceanchoice.com Phone: 1.709.685.9290

Tuesday, August 24, 2021

Invest Nova Scotia (INS) has an agreement with DAMO Technology Corporation Limited in the form of a payroll rebate. 

DAMO Technology Corporation Ltd. is an innovator in electric transportation and mobility solutions. It is establishing a Halifax office to conduct further technology development and eventually manufacture autonomous electric trucks for the North American market.

As per the six-year payroll rebate agreement, DAMO Technology Corporation Ltd. has the potential to create up to 200 jobs. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $64,000,000 in salaries and benefits. 

It is also estimated that the new employees would contribute provincial tax revenues of around $8,592,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $4,985,000 over six years.  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:  Yuki Wang Email: mathrew888@gmail.com Phone: (+86) 185-1970-0506

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Invest Nova Scotia (INS) has an agreement with BDO Canada LLP in the form of a payroll rebate.

BDO Canada LLP is a leading provider of assurance, accounting, tax and advisory services in Canada. With 100 years of working with local communities, BDO brings deep industry knowledge to clients of all sizes in virtually all business sectors. BDO has over 125 offices across Canada. The company is expanding its two Nova Scotian offices: Brownlow Avenue in Dartmouth, and Mumford Road in Halifax.

As per the five-year payroll rebate agreement, BDO Canada has the potential to create up to 40 jobs . Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $8,050,000 in salaries and benefits. 

It is also estimated that the new employees would contribute provincial tax revenues of around $1,031,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $645,400 over five years.   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:  Katie Raskina Proof Strategies Email: kraskina@getproof.com Phone: 1-416-452-5355

July 13, 2021  

Invest Nova Scotia (INS) has an agreement with Butterfield Support Services (Halifax) Limited in the form of a payroll rebate.   

Butterfield Support Services is a wholly owned subsidiary of The Bank of N.T. Butterfield & Son Limited (“Butterfield”), a leading, independent offshore bank and trust company, headquartered in Bermuda. Butterfield has operations in Bermuda, Cayman Islands, Channel Islands, UK, Bahamas, Mauritius, Singapore, Switzerland and Canada (Halifax). Butterfield is expanding its service centre in Halifax to continue to support business and client needs.   

Butterfield Support Services has the potential to create up to 80 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $5,070,000 in salaries.  

It also estimated that the new employees would contribute provincial tax revenues of around $2,000,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $1,138,800 over five years.     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:   Nicky Stevens  Email: Nicky.Stevens@Butterfieldgroup.com  Phone: +1 441 524 4106 

June 29, 2021

Invest Nova Scotia (INS) has an agreement with Arcturus Studios Inc. in the form of a payroll rebate.

Arcturus Studios Inc. is a digital media company that builds software tools for creating, editing, and distributing immersive, volumetric video for both virtual and augmented reality. Arcturus has offices in Dartmouth, Nova Scotia and Los Angeles, California. They are expanding the Dartmouth office.

Arcturus Studios Inc. has the potential to create up to 56 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $17,200,000 in salaries. 

It also estimated that the new employees would contribute provincial tax revenues of around $2,309,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $1,372,000 over five years.  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:  Ryan Fleming Tel: +1-503-796-9822 Email: ryan@liaisonpr.com

June 22, 2021

Invest Nova Scotia (INS) has an agreement with Payment Rails Inc. in the form of a payroll rebate.  

Payment Rails is the leading worldwide payouts platform for the internet economy. Headquartered in Montreal, Quebec, and with offices in Toronto, Ontario, and London, United Kingdom, Payment Rails is establishing a new office in Halifax, Nova Scotia. The company is increasing its North American footprint with growth of a new location in Nova Scotia. 

Payment Rails has the potential to create up to 40 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $1,690,000 in salaries. 

It also estimated that the new employees would contribute provincial tax revenues of around $816,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $449,800 over five years.  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:  Tim Nixon Email: press@paymentrails.com Phone: 855-672-9688

May 25, 2021

Invest Nova Scotia (INS) has an agreement with Cloudlogic Technologies in the form of a payroll rebate. 

CLOUDLOGIC TECHNOLOGIES is a global software development company and innovator in migrating business critical on-premises legacy software applications to modern cloud platform. The company serves its global clients for application modernization, cloud native apps, custom software application development, DevOps automation and digitization. Cloudlogic Technologies has driven innovation across Insurance, Manufacturing, Healthcare and Education industries in the last decade. Cloudlogic Technologies uses an array of AWS, Microsoft Azure and Google cloud platform services. The company carries on that tradition of digital transformation—bringing AI Data Analytics, CloudSmart ERP solutions to manufacturing industries, developing secure web, and mobile applications for education campuses, institutions, and health care systems. 

Cloudlogic Technologies is headquartered in Puducherry (Pondicherry), India. The company is establishing a new office in Halifax, Canada. They are looking to increase their North American footprint by entering Nova Scotia. 

Cloudlogic Technologies has the potential to create up to 44 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $6,968,000 in salaries. 

It also estimated that the new employees would contribute provincial tax revenues of around $892,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $574,860 over five years. 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:  Naveen Jothigan  Email: naveen@cloudlogic.tech  Phone: +91 9840802462 

May 25, 2021

Invest Nova Scotia (INS) has an agreement with Marsh Canada Limited/Marsh Canada Limitée in the form of a payroll rebate. Marsh Canada is a subsidiary of Marsh McLennan, a global leader in insurance broking and risk management. Marsh Canada has 15 offices in Canada, including two in Halifax. One Halifax office is focused on brokerage, and the other is focused on captive insurance management. Marsh is expanding its captive insurance operations in Halifax. 

Marsh Canada has the potential to create up to 60 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $14,000,000 in salaries.

It also estimated that the new employees would contribute provincial tax revenues of around $1,793,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $1,108,800 over five years. 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:

Michelle Sivanayson

Email: michelle.sivanayson@marsh.com

Phone: 902-429-1286

May 11, 2021

Invest Nova Scotia (INS) has an agreement with Virtusa Corporation in the form of a payroll rebate. Founded in 1996, Virtusa Corporation is headquartered in Southborough, MA. The company is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovation engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, and Technology industries. Virtusa has a worldwide presence of around 25,000 employees with offices throughout the United States, Europe and Asia. They are looking to increase their North American footprint by entering into Nova Scotia.

Virtusa Corporation has the potential to create up to 180 jobs and corresponding potential payroll investments of up to a stretch maximum of $32,200,000 within the five-year term of the payroll rebate.

It is also estimated that the new employees would contribute provincial tax revenues of around $4,125,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $2,457,000 over five years. 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: Matt Berry Tel: 201-370-9133  Email: matt@conversionam.com 

May 11, 2021 

Invest Nova Scotia (INS) has an agreement with NOVONIX in the form of a payroll rebate. Founded in 2013, NOVONIX is a battery materials and technology company enabling an electrified future for electric vehicles and grid energy storage. NOVONIX  R&D, hardware and and battery testing division are located in Bedford, NS and they have a materials production plant Chattanooga, TN. They are expanding their Bedford location and planning to add another facility in Dartmouth.  

NOVONIX Battery Testing Services Inc. has the potential to create up to 82 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $15,819,300 in salaries. 

It also estimated that the new employees would contribute provincial tax revenues of around $2,028,000 through their income and consumption taxes. In this scenario, the company would earn a rebate of up to $1,281,819 over five years.  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:  Chris Burns, CEO  Tel: 902-449-9121  Email: chris.burns@novonix.ca 

April 27, 2021

Invest Nova Scotia (INS) has an agreement with Beyond Trust Software in the form of a payroll rebate. Founded in 1985, BeyondTrust is a worldwide leader in cybersecurity, offering Privileged Access Management (PAM) solutions that empower companies to secure and manage their entire universe of privileges. They have thirteen offices in eight countries, including one in Canada. BeyondTrust is expanding its Halifax, Nova Scotia office with this incentive. 

BeyondTrust has the potential to create up to 140 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend up to $55,000,000 in salaries.

It is also estimated that the new employees would contribute provincial tax revenues of around $7,593,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $3,630,000 over five years. 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: Mike Bradshaw, Connect Marketing Tel: (801) 373-7888 Email:  mikeb@connectmarketing.com

For media inquiries contact:
902.424.3527