Manulife, an anchor financial services employer in Nova Scotia, announced plans, earlier this year, to continue expanding operations in Halifax.
The expansion will include new career opportunities in a variety of positions including claims processing, underwriting, contact centre and management.
Nova Scotia Business Inc. (NSBI) is providing Manulife an incentive to create new jobs in the province through a performance-based payroll rebate of 7.5 per cent over the next five years in support of hiring and training costs. The maximum amount the company is qualified to earn through the incentive is $3.8 million with potential tax revenue to the province of $5.4 million.
"While Manulife is a worldwide leader in the financial services sector with a strong global presence, our roots are deeply embedded in Canada," said Donna Carbell, senior vice-president of operations for Manulife's Canadian Division. "We're very proud of our presence in Halifax where more than 750 employees currently contribute to the global success of our company.
"This continued partnership represents an important opportunity to access a highly educated and skilled talent pool to support our shared services operation."
The company also plans to take advantage of the talent in financial services being educated at institutions in Halifax and training programs in the province to ensure employees receive the value-added benefit of experience in a global operation.
Manulife is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. The company's international network of employees, agents and distribution partners offer financial protection and wealth management products and services to millions of clients as well as providing asset management services to institutional customers.
"The incentive agreement will help ensure that Manulife continues to grow its business operations in Nova Scotia," said Ron Smith, interim CEO of NSBI. "This transaction will add new employment, and new payroll here in our province while contributing to the growth of the financial services sector."