1E9Ct5D

minimum wage. To be eligible, the employee must have graduated from a recognized postsecondaryeducation institution in the last four years. The job must be for a minimum of 30hours per week and related to the employee’s field of study.NB GROWTH PROGRAM (“NBGP”)The NBGP aims to create sustainable employment opportunities in New Brunswick byfinancially stimulating small businesses to pursue opportunities within targeted sectors of theeconomy and to stimulate capital investment for small business start-up, expansion,diversification, innovation and productivity improvement. Companies wishing to establishthemselves can apply for up to $100,000 in non-repayable contribution for 50% of eligible costs.Already established companies seeking to expand, diversify or improve productivity can applyfor up to $60,000 in non-repayable contributions for 30% of eligible costs. The “eligible costs” forthese contributions include capital costs between $5,000 and $500,000 and salaries for newlycreated full-time employment positions.FINANCIAL ASSISTANCE TO INDUSTRY PROGRAMThis program provides financial assistance towards the establishment, expansion ormaintenance of new or existing manufacturing or processing industries, selected commercialservice firms (business-to-business with focus on export activity or import displacement),tourism operations (consistent with the tourism strategy) and information technology companies(consistent with the information technology strategy). Financial assistance may be provided inthe form of a loan guarantee or direct loan.INNOV8 PROGRAMINNOV8 funding is designed for New Brunswick companies that are developing intellectualproperty, specialized software, hardware, equipment, or performing research and developmentor prototyping. Funding is available only to those firms that are clearly identified as belonging toone of these six sectors: ICT, biosciences, industrial fabrication, aerospace & defence, valueaddedwood and value-added food. Through INNOV8, a company may be provided with up to$50,000 in funding per project to a limit of $100,000 per year.ENERGY COSTSNB Power offers very attractive electricity rates for commercial and industrial customers.Additionally, NB Power provides a “Declining Discount Firm Rate” for new facilities with firm loadof at least 5000KW, which results in a 50% reduction in the demand charge for a period of oneyear. The discount decreases to zero in year six.Business Incentives 165