The provincial and federal governments are jointly investing $463,119 in Moncton based Dovico Software Inc.
Co founder Yves Doucet says they’ve already hired three people with this funding, and expect to hire ten more in the coming months.
The funds will also be used to buy new software and hardware, and fund market development.
According to Opportunities NB, their investment of $130,869 will generate an estimated $2.3 million to the provincial GDP over the next three years.
It is also expected to generate provincial income tax revenues of $139,000 over that same time period.
GNB and the federal govt are jointly funding Dovico Software in #Moncton to the tune of $460,000 for 13 jobs & software and hardware purchases. pic.twitter.com/6C0cpgKRcV
— Dave Heintzman (@daveheintzman) April 9, 2018
The lion’s share of the provincial funding comes from Opportunities NB, with $95,709 to support new positions, and $14,360 in support of market development for a total of $110, 069, and the remaining $20,800 is from the One-Job Pledge Program administered by the Department of Post-Secondary Education, Training and Labour.
The $332,250 portion from the federal government is from the Atlantic Canada Opportunities Agency’s Business Development Program, and it is in the form of a repayable contribution.
