{"id":6380,"date":"2024-02-21T12:35:29","date_gmt":"2024-02-21T15:35:29","guid":{"rendered":"https:\/\/nnpress.ca\/?p=6380"},"modified":"2024-02-21T12:35:29","modified_gmt":"2024-02-21T15:35:29","slug":"province-has-new-payroll-rebate-agreement-with-tech-services-company","status":"publish","type":"post","link":"https:\/\/nnpress.ca\/index.php\/2024\/02\/21\/province-has-new-payroll-rebate-agreement-with-tech-services-company\/","title":{"rendered":"Province Has New Payroll Rebate Agreement With Tech Services Company."},"content":{"rendered":"\n

Global technology services company Cognizant is preparing for more growth in Nova Scotia, potentially creating hundreds more well-paying jobs.<\/p>\n\n\n\n

Today, February 20, the Province announced it will support the company\u2019s growth with a new payroll rebate agreement, which could see as many as 1,000 additional jobs in Nova Scotia within six years.<\/p>\n\n\n\n

“We’re excited to see an employer like Cognizant again choose Nova Scotia to expand its operations,” said Economic Development Minister Susan Corkum-Greek, Minister responsible for Invest Nova Scotia. \u201cCognizant has been a success story here in one of our strategic growth sectors, creating well-paying jobs for Nova Scotians, new post-secondary graduates and newcomers.\u201d<\/p>\n\n\n\n

In June 2023, Cognizant reached a milestone of 1,000 employees in Nova Scotia sooner than anticipated, an impressive growth baseline on which the new rebate agreement will be applied.<\/p>\n\n\n\n

The company could spend an estimated $246.6 million in combined salaries and benefits within six years, with the Province collecting income and consumption taxes of about $31.9 million \u2013 in addition to the federal taxes collected \u2013 from the new employees. As a result, the company could earn a rebate of up to $20.7 million under this agreement.<\/p>\n\n\n\n

\n\n\n\n

Quotes:<\/strong><\/h4>\n\n\n\n

\u201cWe\u2019ve exceeded expectations in Halifax in under two years, making Cognizant the largest IT services employer in Atlantic Canada, with a plan to grow to 2,000 associates. Our collaboration with local universities, such as Dalhousie, underscores our dedication to nurturing local talent combined with our global expertise. We are grateful for the Province\u2019s support \u2013 together we’re driving Nova Scotia\u2019s ICT sector forward.\u201d
\u2014 Jay MacIsaac, Canada Country Head, Cognizant<\/em><\/p>\n\n\n\n

\u201cThe information and communications technology sector is a tremendous opportunity to create more high-paying and high-productivity jobs across Nova Scotia. Cognizant\u2019s latest growth plan is a notable example of how we\u2019re succeeding in bringing more business to Nova Scotia and, as a result, generating growth in the strategic ICT sector.\u201d
\u2014 Peter MacAskill, President and CEO, Invest Nova Scotia<\/em><\/p>\n\n\n\n

\n\n\n\n

Quick Facts:<\/strong><\/h4>\n\n\n\n
    \n
  • the company is a wholly owned subsidiary of U.S.-based Cognizant Technology Solutions Corporation<\/li>\n\n\n\n
  • the first rebate agreement with Cognizant was announced in January 2022<\/li>\n\n\n\n
  • payroll rebates are designed in a way that the tax revenue generated for the Province by the new jobs is more than the amount spent on the rebate<\/li>\n\n\n\n
  • Cognizant will be eligible for smaller rebates if targets outlined in the agreement are not met<\/li>\n\n\n\n
  • according to Statistics Canada, Nova Scotia\u2019s ICT sector contributed $2.06 billion to the province\u2019s GDP in 2022<\/li>\n<\/ul>\n\n\n\n

    Source: Provincial Release <\/p>\n","protected":false},"excerpt":{"rendered":"

    Global technology services company Cognizant is preparing for more growth in Nova Scotia, potentially creating hundreds more well-paying jobs. Today,<\/p>\n","protected":false},"author":1,"featured_media":5429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[6,10,12,13,17],"tags":[],"class_list":["post-6380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-general","category-latest","category-news","category-technology"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/posts\/6380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6380"}],"version-history":[{"count":1,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/posts\/6380\/revisions"}],"predecessor-version":[{"id":6381,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/posts\/6380\/revisions\/6381"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/media\/5429"}],"wp:attachment":[{"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nnpress.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}