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Province
backs U.S. translation company with $400k rebates
The Daily News, July
15, 2004
By Stephen Bornais
HALIFAX - The province will provide up to $400,000 in payroll rebates
to an American company that provides translation services for the medical
industry.
Boston-based ForeignExchange Translations, Inc., which provides translation
services in 32 languages to medical-device manufacturers and pharmaceutical
companies, has promised to create 60 jobs in Nova Scotia at an average
salary of $34,000 per year. If the company meets its obligations in
a three-year deal with Nova Scotia Business Inc., ForeignExchange is
eligible to receive a maximum of $397,000 in 2006.
Christine Horning, who is moving to Halifax to run ForeignExchange's
local office, said the company chose Nova Scotia over several other
Maritime locations. She said the province's cost advantages - including
the financial help from the government - a large skilled labour force
and direct air connections to the U.S. northeast eventually made the
decision any easy one.
The province first met with officials from ForeignExchange a year ago
and has been working since then on a deal to bring the company to Nova
Scotia.
ForeignExchange has 30 permanent employees and up to 500 contract writers
with offices in the United States and Europe. The privately held company
had sales of $5 million last year. The Halifax office, which now has
three employees, will provide expertise in project management, graphic
design, and publishing.
There will also be a significant telemarketing effort in the local office,
but Horning was unable to say how many of the 60 promised jobs would
be in that end of the business. She did say, though, that the telemarketers
will not be making cold calls to potential clients, but instead will
work with existing clients to help identify future opportunities.
Stephen Lund, president and CEO of Nova Scotia Business Inc., said the
province intends to target the company's client list, to help build
Nova Scotia's life sciences sector.
"It allows us to say to these companies, 'Talk to Christine about her
experience in Halifax,'" he said. "Any company we have that has a good
success story in Nova Scotia is a great marketing tool for us"
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