Provincial Government Launches New Job Accelerator and Growth Program

The provincial government has announced a new Job Accelerator and Growth Program.

The new program is meant to attract new investment that supports innovation, economic development and diversification in the province.

The Job Accelerator and Growth Program will incentivize qualified, established, profitable companies to establish and grow in Newfoundland and Labrador.

Funds for this program are made available from the Department of Industry, Energy and Technology’s existing Investment Attraction Fund allocation. Up to $2 million in funding will be used annually for the next five years.

Companies will receive a payroll rebate of 10 percent for each incremental job created. A further five percent is added for the hiring of a recent graduate in the province or a new resident to the province from another jurisdiction with priority skills that are in limited supply in Newfoundland and Labrador.