GradWorks — Employer Incentive Program
Highlights
This program is designed for businesses like yours, offering a unique opportunity to hire skilled graduates while receiving significant financial support. By participating, you can receive up to 66% salary support, with a maximum of $30,360 for a one-year period. This can greatly reduce your payroll expenses and allow you to invest in other areas of your business.
What’s in it for you?
- Financial Support: Up to 66% of the salary covered.
- Skilled Workforce: Access to qualified NSCC graduates.
- Increased Productivity: Build capacity and support profitability.
This program is easier to qualify for than many other financing options, and it focuses on supporting businesses that are innovative and export-oriented. By being approved, you can enhance your operations, improve efficiency, and drive growth.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates. This is a subsidy, not a loan.
Eligible Expenses:
- Salaries and wages for new hires.
- Training costs for new employees.
- Costs associated with onboarding and integrating new staff.
Ineligible Expenses:
- Existing employee salaries.
- Operational costs unrelated to new hires.
- Capital expenditures such as equipment or property.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a small or medium-sized business.
- Must be located in Nova Scotia.
- Must be focused on export and innovation.
- Must be in a sector other than retail/wholesale, real estate, government services, or services of a personal or social nature.
Must not have received funding through a similar ACOA-supported program in the past.
Disqualifications:
- Businesses in the retail/wholesale sector.
- Real estate businesses.
- Government services.
- Personal or social services.
- Businesses that have received funding through a similar ACOA-supported program in the past.
Description
This program offers your business a fantastic opportunity. You can receive up to $30,360 in salary support when you hire a qualified NSCC graduate. This support covers up to 66% of the graduate's salary for a period of up to one year.
This funding can help your business in several ways:
- Boost productivity: With skilled graduates on your team, you can enhance your operations and efficiency.
- Increase profitability: By building capacity, you can drive growth and improve your bottom line.
This program is ideal for businesses looking to innovate and expand. It focuses on sectors like advanced manufacturing, where new technologies and processes can create significant value. Take advantage of this support to grow your business and stay competitive.
Program Steps
Fill Out an Application:
- Download and complete the application form for potential employers.
Review the Participant Guide:
- Read the Participant Guide for Employers to understand the program details and requirements.
Prepare Documentation:
- Gather the necessary documents to support your application. These may include:
- Business registration documents
- Financial statements
- A detailed job description for the position you intend to fill
- A plan outlining how the graduate will be integrated into your business
- Gather the necessary documents to support your application. These may include:
Submit the Application:
- Send the completed application form and the required documentation to the program administrators.
Await Review and Approval:
- The program administrators will review your application. They may contact you for additional information or clarification.
Finalize Agreement:
- Once approved, discuss and finalize the terms of the agreement, including salary support details and the duration of the employment period.
Hire the Graduate:
- Proceed with hiring a qualified NSCC graduate as per the agreed terms.
Receive Salary Support:
- Ensure you comply with the program requirements to receive up to 66% salary support for the hired graduate.