HALIFAX – Nova Scotia’s business lending agency is giving a payroll rebate worth up to $520,000 over five years to a tech firm that specializes in mobile app development.
Nova Scotia Business Inc. approved the rebate for Lixar I.T. Inc., an analytics, cloud services and software design company.
It says it could create up to 40 new jobs and spend $6.9 million in salaries based on the maximum growth forecast of the five-year payroll rebate deal.
The province says new employees will pay provincial personal income taxes of about $752,000, earning Lixar up to $552,000 through the rebate.
The company will be eligible for a smaller rebate if it creates fewer than the 40 new jobs.
Under the deal, Lixar will receive between five and 10 cents back for every dollar it spends on the new jobs.