NSBI Approves Payroll Rebate

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for MOBIA Technology Innovations Incorporated (MOBIA).

MOBIA, founded in 1985 and headquartered in Dartmouth, is a systems integration and technology consulting firm with extensive experience working with Canadian telecommunication service providers, health-care providers and enterprises. The company has four offices across Canada and is expanding its Nova Scotia operations.

The company has the potential to create up to 120 jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates the company could spend $18.14 million in salaries.

It is also estimated the new employees would contribute provincial tax revenues of $2.34 million through their income and consumption taxes. As a result, the company would earn a rebate up to $1.31 million over five years.

MOBIA will be eligible for a smaller rebate if it creates fewer than 120 new jobs.

Quick Facts:

• payroll rebates are designed in a way that the tax revenue generated for the province by the new jobs in Nova Scotia is always more than the amount of the rebate
• payroll rebates are only paid after a business has generated actual payroll for the Nova Scotia economy
• for every dollar a company spends on the new jobs it receives between five and 10 cents back
• when a company submits an annual rebate claim it must send NSBI audited information that confirms the number of jobs it created that year
• payroll rebates are paid through the Strategic Investment Fund

Additional Resources:

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

More information on MOBIA can be found at https://mobia.io/