TD Insurance is one of three major businesses that have been granted payroll rebates with the goal of creating hundreds of jobs over the next five years, Nova Scotia Business Inc. announced Friday.
The rebates to be granted to TD Insurance total up to $3.97 million with the expectation that this measure will generate as many as 300 jobs at the insurer’s offices in Halifax.
“TD Insurance, Canada's largest direct-response home and auto insurance group, has the potential to create up to a maximum of 300 new jobs under the payroll rebate agreement,” read an NSBI release announcing the measure.
Nova Scotia's business development agency said that based on the maximum growth forecast of the five-year payroll rebate agreement, it estimated that TD Insurance would spend $49.7 million in salaries. The workers thus employed would pay taxes of roughly $5.2 million, meaning TD Insurance would earn up to $3,977,000 through the payroll rebate, over five years.
In the same announcement the NSBI announced it would offer rebates to Dartmouth-based Canadian Maritime Engineering of up to $1.4 million to create as many as 80 jobs and up to $427,500 to Arizona-based mobile marketing company Mobivity, to create up to 40 jobs at its Dartmouth operation.
