Job Accelerator and Growth Program
No fixed amount
Rebate
Description:
The Job Accelerator and Growth Program (JAG Program) is a new program created to support job creation and investment in Newfoundland and Labrador. The program will promote economic growth and development by providing a payroll rebate on qualifying incremental job creation. The program aims to attract established companies that are ready to commit to the province long term, have solid management, a record of success, and a clear path to growth. These could be companies outside the province seeking to establish a new presence, or companies in the province that are looking to expand.
Comments on Funding:
Qualifying companies will receive an annual payroll rebate of 10 per cent on each incremental job created for the duration of the three-year period, subject to the provision of annual payroll data to the province. A further five per cent incentive will be available for the hiring of recent graduates in the province, or for the hiring of newcomers to the province who have priority skills that are in short supply in Newfoundland and Labrador.
Continuous Intake
Eligibility:
Applicants must be companies will be required to commit to:
1. Creating a minimum of 20 new jobs over a three-year period;
2. Ensuring that the new jobs have an average salary of $50,000; and
3. Demonstrating a long-term commitment to the province through capital or other investment.
Candidate companies may come from any existing or emerging sectors in the province that have high-growth potential and the ability to satisfy the requirements and objectives of the program. Consideration will be given to regional and sectoral diversification. Companies required to enter into industrial benefits agreements with the province, such as energy and mining companies, are ineligible for this program.
Application Steps:
Applicants must contact IET@gov.nl.ca or call 709-729-6123.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
