News Release Archive

Economic Renewal Minister Robbie Harrison said today that the
government of Nova Scotia and the Canadian Imperial Bank of
Commerce have concluded an agreement on the level of training
required for telephone banking expertise.

CIBC announced last March that it would establish one of its
two national telephone banking centres in Halifax, bringing 500
jobs to the local economy over two years. The centre, when fully
operational, will have an annual payroll of $15 million.

"At the time the telephone banking centre was announced, the
Province of Nova Scotia agreed to make an investment in
upgrading the computer, telephone and sales skills of our labour
force. That commitment has now been established at $6800 per new
employee," said Mr. Harrison.

CIBC has already hired the first wave of managers and
employees. Training will begin over the next few weeks.

"It is vital that Nova Scotia have a skilled workforce if we
are to continue to attract significant investment to this
province," Mr. Harrison said. "Nova Scotia can compete in the
rapidly expanding field of technology. We see this as investment
in the lifelong skills of our workforce."

The minister said that the $6800 per job compares favourably
with the cost to the province of training business students in
the community college system.

Mr. Harrison said CIBC's investment in the Halifax banking
centre is an excellent example of what can be accomplished when
government and business work together. "We're looking forward
to arranging more training partnerships with the private sector."


Contact: Steve Warburton  902-424-0927

trp                        Oct. 20, 1995