News release

NSBI Approves Innovation Rebates

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

Nova Scotia Business Inc. (NSBI) has approved two business development incentives in the form of an innovation rebate for Van Meekeren Farms Limited and Totally Raw Natural Dog Food Inc.

Since 1967, Van Meekeren Farms, based in Kings County, has been growing, harvesting, storing and shipping fresh apples to markets throughout Canada, the United States, Europe and more.

Van Meekeren Farms is proceeding with a $8,635,818 capital investment to create an improved apple packing facility and controlled atmosphere storage through an expansion and upgrade to meet the increased demand for export and help increase efficiency and production levels.

The company is eligible to earn a maximum innovation rebate of $2,158,955 upon completion of its project, based on eligible capital spending of $8,635,818.

Based in Burnside Industrial Park, Totally Raw Natural Dog Food Inc. is the largest producer and distributor of high quality, healthy, raw pet meals, treats and supplements in Atlantic Canada. The company exports to more than 500 stores across Canada, including 400 Canadian Tire locations and is working to expand into international markets.

Totally Raw Natural Dog Food Inc. is proceeding with a $2,760,700 capital investment to create a state-of-the-art manufacturing and distribution facility. The new manufacturing and distribution operation will increase efficiency and production and ensure there is capacity to meet the increasing demand for Totally Raw Pet Food products.

The company is eligible to earn a maximum innovation rebate of $322,233 upon completion of its project, based on eligible capital spending of $1,288,933.

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 $15,000,000
  • the maximum rebate amount for an eligible project, including related parties, cannot exceed $3,750,000 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

Information on NSBI transactions can be found at http://www.novascotiabusiness.com/fundingdisclosures .