Companies Hire Hundreds of Nova Scotians, Earn Credits

ECONOMIC DEVELOPMENT--Companies Hire Hundreds of Nova Scotians, Earn Credits

Two companies employed more than 400 Nova Scotians and paid out more than $15 million in wages across the province last year thanks to business growth credits provided by the province.

These companies earned $1.4 million in business growth credits in 2004-05 after reaching the terms set out by the province in agreements established between 1997 and 2004.

"Our investment in Nova Scotia's people and business is paying off," Economic Development Minister Ernie Fage said today, April 15. "More than 400 people are working and paying taxes that help deliver, health, education and other services in communities throughout Nova Scotia."

In 2004-05 Polysteel Atlantic Ltd. of Edwardsville, Cape Breton Co., earned $153,185 in business growth credits on a 1997 agreement that allowed the company to purchase a new facility, hire up to 50 new employees and expand its lines and markets.

Keane Canada Limited, Halifax, earned $1,250,000 in business growth credits based on meeting all targets in a March 2004 agreement. The company expended targeted capital amounts and achieved CMM Level 5 certification -- an industry certification standard that ensures the most rigorous methods are used to construct, test, and assess the quality of software applications. Keane also employed more than 370 people, far exceeding its goal of 255 employees.