December 8, 2020
LifeRaft is thrilled to announce the approval of a business development incentive with Nova Scotia Business Inc (NSBI) in the form of a payroll rebate. This incentive has the potential to help the company double in size within the next five years. LifeRaft will be expanding the headquarters in Bayers Lake, Nova Scotia, with the addition of new hires in product and development, sales, and marketing.
LifeRaft currently employs over 50 Nova Scotians and has the potential to create up to 50 more jobs under the five-year payroll rebate agreement. Based on the maximum growth forecast of the agreement, NSBI estimates that the company could spend $14,625,000 in salaries.
It also estimated that the new employees would contribute provincial tax revenues of around $1,878,000 through their income and consumption taxes. As a result, the company would earn a rebate of up to $994,500 over five years.
Media Contact: Melissa Cooper