News release

NSBI Approves Innovation Rebate for Cherubini Metal Works

Nova Scotia Business Inc. (Dec. 2004 - Nov. 2022)

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of an innovation rebate for Cherubini Metal Works Limited in Dartmouth.

The company’s core business is steel fabrication for bridges, structural and miscellaneous metal work. Cherubini was recently involved in the re-decking project of the MacDonald Bridge in Halifax.

The company is proceeding with a $3,508,628 capital investment to expand a current facility and upgraded 30-year-old equipment with a state-of-the-art automated blast line, as well as installation of a new dust collector/exhaust system necessary to meet increased demands for export and help increase efficiency and production levels.

The company is eligible to earn a maximum of $739,657 upon completion of its project, based on capital spending of $2,958,628.

To be considered for an innovation rebate, a company's total project costs must be between $2 million and $15 million. An approved rebate is up to 25 per cent against eligible project costs.

Quick facts:

  • the Innovation Rebate Program was developed in consultation with Nova Scotia companies
  • the Innovation Rebate Program provides financial incentives on projects that enable a company to increase innovation capacity through private sector capital investments or adoption of new technologies and business processes
  • the program provides up to a 25 per cent rebate based on eligible project costs, as defined in the Innovation Rebate Program guidelines
  • the total project cost must be between $2 million and $15 million. The maximum amount of eligible project costs to which the rebate will be applied is $15 million
  • the maximum rebate amount for an eligible project, including related parties, cannot exceed $3.75 million over a 24-month period
  • the innovation rebate works as a rebate against a company's direct costs and is only paid out once the project is complete

Additional Resources:

NSBI transactions: http://www.novascotiabusiness.com/fundingdisclosures

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