Pair of area businesses investing in growth

Christopher Gooding
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SPRINGHILL - Just days after announcing new terms to its payroll rebate program, the province's business development agency will name the first businesses to accept its challenge.

Today Nova Scotia Business Inc. [NSBI] will identify Springhill's Surrette Battery and Parrsboro Metal Fabricators as the first to accept the new terms of the revamped rebate program, allowing the manufacturers to invest in growth and possibly qualifying for a rebate on payroll taxes. Dignitaries and business insiders will descend on the former mining town of Springhill for the 1:30 announcement at the Dr. Carson and Marion Murray Community Centre to hear how much the rebates could be worth.

Pat Ryan, vice-president and chief operating officer of NSBI, says the new rules will see more of the province's existing manufacturers step towards more global markets.

"We're looking for domestic businesses making strategic investment in themselves," Ryan said in an interview with the Amherst Daily News. "Businesses have to take risks, in some cases significant risks, and we're looking to support them."

The payroll rebate is an additional investment for companies that are committed to using their own funds for at least 20 per cent of project costs. Eligible companies would earn the rebate incrementally as they achieve performance measures and payroll targets.

"People have to understand the hurdles are significant," Ryan said. "The business has to prove they're becoming bigger and more vibrant to qualify and it's performance based. They'll be reimbursed after the fact if they qualify. This is not a subsidy or a hand out."

NSBI began the rebate program as an incentive to lure industry to the region and create jobs. Looking at the current value of the Canadian dollar and world competition faced by companies even in small towns like Parrsboro, NSBI moved to include job retention within the program and stimulate existing economies and promote regional growth.

"These companies are committed to their communities," NSBI spokesperson Sarah Levy said. "Seeing them stay in the community is very important."

With today's announcement Levy hopes more industries in small-town Nova Scotia will take notice and apply for the program.

Organizations: Today Nova Scotia Business, Amherst Daily News

Geographic location: SPRINGHILL, Parrsboro, Nova Scotia

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Recent comments

  • Dave
    January 18, 2010 - 10:51

    Isn't ironic that the leading polluter of toxic chemicals in Springhill is getting a rebate just so that it can boost its profits?