Business New Brunswick

Province provides working capital investment in Innovatia Inc. (10/05/18)

NB 759

May 18, 2010

SAINT JOHN (CNB) - The provincial government is supporting growth in Saint John's knowledge industry with payroll rebates for up to 100 new, full-time technology jobs and a working capital loan guarantee at Innovatia Inc.

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(Multimedia)

The announcement was made today by Premier Shawn Graham, Supply and Services Minister Ed Doherty and Roxanne Fairweather and Dave Grebenc, co-owners of Innovatia Inc.

"We are proud to invest in this company as it hires a significant number of new employees in one of the fastest-growing sectors of our economy," said Graham. "Innovatia Inc. is a New Brunswick success story in the information and technology industry. Its visionary management team has diversified its product offering and secured contracts in a wide variety of areas, ensuring its future success in Saint John."

The provincial government has made an agreement in principle to provide Innovatia Inc. with support for an ongoing expansion that will see the addition of up to 100 New Brunswick-based employees. The province is providing a payroll rebate of up to $900,000 over four years to offset the cost of training the new workers.

In addition, government has agreed in principle to provide the company with a working capital loan guarantee of up to $1.5 million. The company has 297 employees, most in New Brunswick.

Innovatia Inc. provides information technology-related services to global clients that include equipment manufacturers, information communications technology and energy companies.

Fairweather said the company is looking forward to hiring new employees in all regions of the province.

"We are building this company in New Brunswick with the determined support of our community and the creative force of our employees," she said. "We appreciate the government's confidence in our growth plan, and we look forward to providing new employment, skills and opportunity for New Brunswickers and their families."

On Friday, May 7, Innovatia Inc. received an award for the Best Export Services Company at the 12th annual Knowledge Industry Recognition Awards gala in Fredericton. The award gives credit for achievement in exporting knowledge services outside New Brunswick.

"I am extremely proud of the courage and drive of this leadership team and of its dedication to strengthening the knowledge economy of New Brunswick," said Graham. "We share its vision of New Brunswick as an information technology powerhouse and Canada's smart province. In this way, through hard work, perseverance and commitment, companies such as Innovatia Inc. are helping to lead New Brunswick toward our goal of self-sufficiency in 2026."

10/05/18

MEDIA CONTACTS: Ashley Bursey, communications, Business New Brunswick, 506-461-0942, ashley.bursey@gnb.ca; Sandra Donnelly, communications, Innovatia Inc., 506-674-5367.

10/05/18