How much funding can be received?

This grant provides a structured incentive program to support the attainment of business growth targets in Nova Scotia. The modalities focus on the achievement of performance goals related to job creation and payroll enhancements.

The incentive is structured as a payroll rebate, calculated as a percentage of the company's eligible payroll expenditures.
The rebate is disbursed annually and conditioned on the company achieving predefined performance benchmarks, such as the number of new positions created and the average annual salary offered.
The rebate is negotiated for a specific duration, typically ranging between three to five years, allowing for ongoing financial support based on continuous achievement of growth targets.
Rebate amounts are calculated on the company's eligible gross payroll and are subject to a capped percentage, as negotiated within the rebate agreement.

grant_single_labels|projects

grant_single|admissibleProjectsExample

$ 130,500

Development of aerospace engineering unit with new engineers

$ 160,000

Enhancement of cybersecurity division with 22 new hires

$ 204,750

Establishment of AI research lab employing 28 researchers

$ 175,000

Increased staff for IT service expansion

$ 166,875

Creation of data analytics team with 25 data scientists

grant_single_labels|admissibility

Eligibility for the payroll rebate is determined by specific requirements related to the company's profile and activities within targeted sectors.

The company must operate within knowledge-based industries.
Eligible sectors include financial services and insurance, information technology, and defence, security, and aerospace.
The company should have a high probability of sustainable growth.
The company must be profitable.
A strong management team with a proven track record for success is required.
The company should agree to create at least 20 full-time positions in Nova Scotia.

grant_eligibility_criteria|who_can_apply

Companies in knowledge-based industries such as financial services and insurance, information technology, and defence, security, and aerospace are eligible. These organizations must show a high probability of sustainable growth, profitability, a strong management team, a proven track record of success, and agree to create at least 20 full-time positions in Nova Scotia.

grant_eligibility_criteria|who_cannot_apply

Certain types of companies and industries may not be eligible for the payroll rebate offered by Invest Nova Scotia. Restrictions are primarily based on the company's industry and its growth potential.

Industries outside the targeted sectors: financial services and insurance, information technology, and defence, security, and aerospace.
Companies with a low probability of sustainable growth.
Companies without profitable operations or a strong management team.
Businesses unable or unwilling to create at least 20 full-time positions in Nova Scotia.

grant_eligibility_criteria|eligible_expenses

Companies eligible for the payroll rebate must undertake activities that contribute to the creation of new jobs and sustainable growth within Nova Scotia's targeted sectors. The focus is on high-impact, knowledge-based initiatives in financial services, information technology, and defence industries.

Creation of new full-time employment positions in Nova Scotia.
Engagement in sectors with a high growth potential such as financial services and insurance.
Development of operations within the information technology sector.
Investment in projects related to defence, security, and aerospace.

grant_eligibility_criteria|zone

This grant is specifically designed for companies situated in a particular geographic area as the funding body, Invest Nova Scotia, supports businesses located in Nova Scotia.

Businesses located within Nova Scotia, Canada.

grant_single_labels|criteria

There are evaluation and selection criteria for this grant. The company must achieve pre-determined targets related to the number of new positions created and the average annual salary.

Number of new positions created
Average annual salary

grant_single_labels|register

Step 1: Initial Contact
- Reach out to the Invest Nova Scotia team via phone or email to express your interest in the payroll rebate program.
- Request detailed guidance on their specific application process and any pre-application requirements.
Step 2: Eligibility Assessment
- Review the eligibility criteria thoroughly to ensure your company qualifies for the payroll rebate, especially in terms of industry sector and job creation targets.
- Gather initial data on your company’s capability to meet the performance targets outlined by Invest Nova Scotia.
Step 3: Information Gathering
- Collect all necessary documentation related to your company’s financials, management, and potential job creation plans.
- Document your company’s growth strategy and how it aligns with the sectors supported by Invest Nova Scotia.
Step 4: Application Preparation
- Prepare a comprehensive application that includes details on your payroll expenses and projected growth in Nova Scotia.
- Ensure that all required documents, such as financial statements and business plans, are up-to-date and accurate.
Step 5: Submission of Application
- Submit your completed application to Invest Nova Scotia via the process specified by their contact team, whether online or by other means they indicate.
- Ensure to double-check that all fields are filled accurately and that all attachments are included.
Step 6: Confirmation
- Await confirmation from Invest Nova Scotia acknowledging receipt of your application.
- Retain the confirmation for your records and future reference.

grant_single_labels|otherInfo

Here are additional relevant details for this grant:

The payroll rebate is a negotiated percentage based on the company's eligible gross payroll.
The incentive is disbursed annually over a set period, typically between three to five years.
Rebates are contingent on meeting specific performance targets outlined in the agreement.