Nova Scotia electronics firm qualifies for $2.5 million payroll rebate

By Staff The Canadian Press

Posted January 21, 2020 1:50 pm

1 min read

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Premier Stephen McNeil delivers the state-of-the-province speech at a business luncheon in Halifax on Wednesday, Feb. 7, 2018. Nova Scotia's premier says he believes more can be gained through continuing to develop economic and cultural ties with China rather than treating the country as an adversary. THE CANADIAN PRESS/Andrew Vaughan. THE CANADIAN PRESS/Andrew Vaughan

Nova Scotia’s business lending agency has agreed to provide an electronics company with $2.5 million over five years if it hires 150 people.

Nova Scotia Business Inc. has offered the payroll rebate to Dartmouth-based Ultra Electronics Maritime Systems Inc.

Established in 1947, the company makes sonar systems for the international military market.

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It’s one of the oldest continuously operating electronics design and manufacturing operations in Canada.

The company will be eligible for a smaller rebate if it creates fewer than 150 new jobs.

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The province says the payroll rebate system is designed to ensure the tax revenue generated by new jobs is always more than the amount of the rebate.

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