NSBI Approves Innovation Rebate

first_imgNova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of an innovation rebate for RKO Steel Limited. Based in Burnside Industrial Park, RKO Steel has been manufacturing steel products, coatings and other high quality steel items for over 30 years, for export across Canada, the United States and other international markets. RKO Steel Limited is proceeding with a $2.9 million capital investment to add specialized stainless and aluminum welding equipment 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 $725,000 upon completion of its project, based on eligible capital spending of $2.9 million. 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 million. 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 completecenter_img Information on NSBI transactions can be found at http://www.novascotiabusiness.com/fundingdisclosures. -30-last_img read more

WHO helps Viet Nam boost bird flu detection after two new reported

The World Health Organization (WHO) has warned several times over the past year of the potential evolution of the virus into a human pandemic which, in the worst scenario, could have a devastatingly deadly result.Increases in poultry marketing, transportation, and consumption with the approach of the Lunar New Year create conditions favouring the virus’s spread.WHO said it had received reports of laboratory tests from Ho Chi Minh City, Viet Nam, indicating that the children, who died on 30 December and 4 January, were infected with the H5 virus subtype, which last year infected 45 people in Asia, 32 of them fatally, and resulted in the deaths or culling of more than 100 million birds.The agency first issued a new call for heightened control measures in Viet Nam at the end of last month when another human case was reported. That person remains hospitalized in critical condition. read more