Nova Scotia Business Inc. (NSBI) approved a business development initiative for Dartmouth Metals and Bottle Ltd.
The company, which recycles large metals like cars and materials from large industrial demolition projects, is proceeding with a capital investment of just over 2.3 million dollars.
In return, they are elligible to earn a maximum innovation rebate of $596,613 upon completion of the project, NSBI says in a release.
Dartmouth Metals and Bottle Ltd. will process large, orversized material into smaller, premium material for export, which NSBI says will help increase efficiency and production levels.
The Innovation Rebate Program provides rebates of up to 25 per cent of projects, which must have a total cost of between 2 million and 15 million dollars.
NSBI says companies can quialify for a maximum of receiving 3.75 million dollars over a 24-month period.
For more information on the Innovation Rebate Program, visit the NSBI website.