Just one of three targeted jobs materialize through N.S. payroll subsidies
HALIFAX — Just one in three potential jobs announced by Nova Scotia’s economic development agency through its payroll rebate program actually materialized over the past four years, a figure rekindling debate over the impact of the incentives.
Data obtained by The Canadian Press covering April 1, 2013, until mid February this year show 2,176 people were hired out of the possible 6,575 approved for subsidies in that timeframe — 33 per cent of those possible among companies that had active files in the time period.
For example, when Conifer Financial Services qualified for a rebate over seven years ago, the news-release headline said, “International financial services firm chooses Nova Scotia for growth.”
The firm qualified for rebates worth $5.2 million if it created up to 350 jobs over seven years, and a senior executive said Halifax was among its fastest growing locations.