Innovation Rebate Program Disclosures - 2024/25
Tuesday, October 15, 2024
The following Innovation Rebate Program incentives were announced during the fiscal year of 2024-2025.
Tuesday, October 15, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Lobster Hub Inc. in Meteghan, Digby County.
The company, established in 2013, specializes in holding and packing of Atlantic Canadian lobsters. Lobster Hub Inc. is a subsidiary company of World Link Food Distributors Inc. The company is undergoing a processing facility expansion which will include the purchase of several pieces of new equipment and installing power infrastructure to support the expansion.
Lobster Hub Inc. will be proceeding with a $2,620,828 capital investment. This investment will enable the company to supply frozen lobsters across new markets direct to retailers, restaurants, cruise ships and food service clients. It will also enable the company to triple the current annual output to a 1.4-million-pound capacity. The installation of lobster splitters, for claws and body sections of lobster, will increase efficiency by 30 percent and allow for faster processing. In addition, the new processing techniques will enable a zero-waste processing of all lobster meat by enabling the use of the entire lobster and therefore decreasing waste production.
The company is eligible to earn a maximum innovation rebate of $630,457 in completion of its project, based on eligible capital spending of $2,521,828. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Seasy Huang, MSc
Controller, Lobster Hub Inc.
902.292.8756
seasy@atlanticlobster.ca
Tuesday, October 1, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Farnell Packaging Limited in Dartmouth, HRM.
The company, established in 1961, has been operating as a consumer-packaged goods company for over 60 years. The company focuses on servicing: bakery, fresh and frozen seafood, fresh and frozen produce, personal care, and horticultural companies across North America.
Farnell Packaging Limited will be proceeding with a $13,637,557 capital investment to upgrade equipment, streamline operations, increase efficiency, and expand the operation.
As a result of this project, the company will launch additional post-consumer recycled (PCR) and recycle-ready packaging products following International Sustainability and Carbon Certification for traceable, deforestation-free and climate-friendly supply chains; increase production capacity by 15-20%; save 80% of energy consumption using new electric pumps versus pneumatic pumps; and divert inks and solvents that would have previously needed to be disposed of as waste.
The company is eligible to earn a maximum innovation rebate of $3,409,389 upon completion of its project, based on eligible capital spending of $13,637,557. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Joel Rudolph
Chief Operating Officer, Farnell Packaging Limited
902.830.7872
joelr@farnell.ca
Tuesday, September 17, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Granby FRP Tanks Incorporated in Waverley, HRM.
The company, established in 2017, manufactures home heating oil storage tanks. Granby FRP Tanks is a subsidiary company of Granby Industries, manufacturing petroleum and water storage tanks across North America. Through this project, the company will invest in new automated manufacturing stations located within the Waverley facility and reconfigure the facility accordingly.
Granby FRP Tanks will be proceeding with a $3,093,385 capital investment, adding new automated manufacturing stations to produce fiberglass reinforced (FRP) tanks. This investment will allow the company to expand its product offering of fiberglass reinforced storage solutions. These automated workstations will also result in a significant production volume increase and reduce raw material waste. As a result of this project, the company expects to expand into new markets and with new customers.
The company is eligible to earn a maximum innovation rebate of $752,084 in completion of its project, based on eligible capital spending of $3,008,335. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Deanna Grant, CPA, CMA
Controller, Granby FRP Tanks Incorporated
902.700.0267
dgrant@granbyindustries.com
Tuesday, September 17, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Cripps & Sons Woodworking Inc. located in Tatamagouche, Colchester County.
The company, established in 2021, manufactures custom cabinetry, and supplies lighting, hardware, sinks and appliances in addition to countertops through partnered suppliers. Through this project, the company will invest in new automated equipment and machinery.
Cripps & Sons will be proceeding with a $1,014,558 capital investment, adding a new automated paint sprayer and robotic sanding machine to enhance and scale production capacity. This investment will allow the company to expand its current workshop to meet with the company’s growing operational requirements. The new technology will also result in a significant production volume increase and reduction of raw material waste. As a result of this project, the company expects to expand into new markets across Canada and increase its customer base.
The company is eligible to earn a maximum innovation rebate of $253,640 in completion of its project, based on eligible capital spending of $1,014,558. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Margaret Cripps
Owner/Operator – Cripps & Sons Woodworking Inc.
902.759.4595
accounts@crippsandsons.ca
Tuesday, July 16, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Twin Rivers Park Ltd. operating as Twin Rivers Home Builders in Granton, Pictou County.
The company, established in 1978, has been operating as a residential rental company for over 30 years. In 2019, the company expanded its focus to also include the manufacturing of fabricated homes. Through this project, the company will upgrade equipment, streamline operations, increase efficiency and expand the operation.
Twin Rivers Park Ltd. will be proceeding with a $1,493,650 capital investment, adding 7,000 square feet of new space, dust collectors, saws, and ventilation fans. The project will include a new CNC machine, an edge bander, and an automated painting machine with an ultraviolet dryer.
The company is eligible to earn a maximum innovation rebate of $336,071 upon completion of its project, based on eligible capital spending of $1,344,285. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Blair Van Veld
COO, Twin Rivers Park Ltd.
902-759-3506
blairvanveld@gmail.com
Tuesday, July 9, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Sunrise Foods Incorporated in Dartmouth, HRM.
Sunrise Foods is a private label snack food company for grocery retailers in the Canadian market. The company has been in operation since 1995 and produces specific snack foods, including: cheese with crackers, breadsticks, and pretzels. The company will be proceeding with a $954,320 capital investment in new equipment and building retrofits.
The project includes the following details: increasing the speeds of current production lines, construction of a flour silo, construction of a second processing room, enhancements to the company’s quality control system, and a new conveyor system. Through the completion of this project, the company anticipates increasing production capacity by 40 percent along with a significant decrease in waste amounts.
The company is eligible to earn a maximum innovation rebate of $238,580 upon completion of its project, based on eligible capital spending of $954,320. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 percent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large, new and new to our province.
Media Contact:
Kelvin Sams
President, Sunrise Foods Inc.
ksams@snaks.com
902.830.8058
Tuesday, June 18, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Vale Packaging Limited in Hubbards, Lunenburg County.
Vale Packaging is a design and manufacturing company offering eco-friendly plastic and paper products. Vale operates based on a minimal carbon footprint and zero-waste manufacturing process. The company is undertaking a project to purchase new machinery, tools, and building improvements to increase production capacity. The company will be proceeding with a $3,200,000 capital investment in new equipment and building retrofits.
The project includes purchasing thermoforming machines and ancillary equipment for material handling, production support, tooling, and prototyping. The project’s building improvements will also include changes to electrical networks to manage increased load capacity, and a building expansion. Through the completion of this project, the company anticipates to double production capacity, and to enter new market segments.
The company is eligible to earn a maximum innovation rebate of $800,000 upon completion of its project, based on eligible capital spending of $3,200,000. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 percent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large, new and new to our province.
Media Contact:
Uriel Guerrero
Director of Operations, Vale Packaging Ltd.
uriel@valepackaging.ca
902.275.7747
Wednesday, May 22, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for King Freight Lines Limited in Pictou, Pictou County.
King Freight Lines started nearly 50 years ago in the transportation business with one truck and currently operates a fleet of 100 Class-8 trucks, and 265 trailers. The company specializes in full-load, dry van services within Nova Scotia, and across Canada and the United States.
King Freight Lines will be proceeding with a $9,886,000 capital investment in new infrastructure and equipment to transition away from fossil fuel reliance. The project includes construction of a new 7,000 square foot trailer repair and maintenance shop, construction of a new 15,600 square foot operations centre, and the establishment of a storage/refueling facility to support fueling of dual-fuel and hydrogen trucks. The installation of a solar panel array is also expected to result in a significant reduction of greenhouse gases.
The company is eligible to earn a maximum innovation rebate of $2,471,500 upon completion of its project, based on eligible capital spending of $9,886,000. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Ira MacInnis, CPA, CA
Director, King Freight Lines Ltd.
902.759.0093
ira.macinnis@kingfreight.com
Tuesday, April 30, 2024
Invest Nova Scotia has approved a business development incentive in the form of an innovation rebate for Electrophonic-IC Inc. operating as InPho in Halifax, Nova Scotia.
InPho, established in Ottawa in 2013, has been dedicated to the development of indium phosphide lasers crucial for cloud computing since 2017. With offices in Ottawa and California, the company is now expanding its operations with a new facility in Halifax.
The proposed project involves the construction of a 3,500 square foot test and reliability facility in Halifax. InPho will be proceeding with a $2,719,529 capital investment to establish this new facility, focused on enhancing back-end chip production. This expansion will result in a 100 percent increase of in-house capacity, enabling the company to significantly scale-up its product line. In the first year, InPho expects to be producing approximately 18,000,000 units of the new line of chips. The project also holds the potential to generate new revenue streams in the future by offering similar services to other North American companies.
The company is eligible to earn a maximum innovation rebate of $679,883 upon completion of its project, based on eligible capital spending of $2,719,529. To be considered for an innovation rebate, a company’s total project costs must be between $350,000 and $15 million. An approved rebate is up to 25 per cent against eligible project costs.
Invest Nova Scotia is Nova Scotia’s business development agency that works to promote economic growth and community economic development in the province by enabling business, innovation, and entrepreneurship. We are Nova Scotians supporting businesses small and large; new and new to our province.
Media Contact:
Rob Graham
Chief Financial Officer, EVP
613.686.6770 ext. 222
rob.graham@inpho.io