07-16-12 05:51 AM
- The Canadian Press - ONLINE EDITION
Troubled RIM hasn't asked for any more government funding, says Nova Scotia
By: The Canadian Press
5/07/2012 5:14 PM | Comments: 0
HALIFAX - Embattled smartphone maker Research in Motion hasn't asked Nova Scotia for any more money as it contends with faltering sales and eroding stock price, the province's economic development minister said Thursday.
Percy Paris told reporters the province has already given RIM millions of dollars over the past four years, and he's hopeful the company will continue to have a presence in Nova Scotia.
"I'm very pleased to have RIM in the province of Nova Scotia," he said. "They've been a good employer for hundreds of people in the province and I hope that they're going to be here for many years to come."
RIM, which has an office in the Halifax suburb of Bedford, said last week it would lay off about 5,000 employees globally as costs are slashed across the company.
It also shocked the market by delaying its BlackBerry 10 operating system, which was widely considered a last-ditch effort to save the company.
Chief executive Thorsten Heins said Tuesday he was confident the company would get past its challenges, insisting RIM isn't in a "death spiral."
Staff with the province's Economic and Rural Development and Tourism Department said Thursday that Nova Scotia has already handed $5 million to RIM for training and new equipment.
As well, RIM (TSX:RIM) was told in 2008 that it had the opportunity to get about $14 million in payroll rebates if it created 1,200 jobs in five years.
Now, in the fourth year of the program, RIM has created about 540 jobs.
As a result, the company has been handed $7.9 million in payroll rebates.
"RIM has not approached our department for other tools or incentives," Paris said.
Premier Darrell Dexter said the province had no plans to offer the company more incentives to keep the jobs in Nova Scotia.07-06-12 12:19 AM
- Bla1zeEditor in Chief07-06-12 12:58 AM
Are Google and Apple given government money ever year in a similar manner?
I had no clue this existed.07-06-12 06:52 AM
- kbz1960Doesn't Matter
They get enough loop holes, tax breaks and ways to hide money here already.07-06-12 06:57 AM
- 07-06-12 06:59 AM
But I find the whole government just writing them a check pretty weird. Perhaps it's standard practice and not unusual there.07-06-12 06:59 AM
By the way, General Motors has moved production to China using the bailout money, nice isn't it?07-06-12 07:07 AM
- 07-06-12 07:15 AM
- kbz1960Doesn't Matter
Oops did it again.07-06-12 07:31 AM
- It's also wonderful we have many companies with fake headquarters in Switzerland or somewhere which enables them to avoid paying taxes here where they really have a headquarters. Gotta love our brain dead take the most from those who have the least government and allow companies to pay nothing and continue with record profits.
Oops did it again.07-06-12 07:39 AM
http://zolmax.com/report-alleges-apple-is-not-paying-millions-in-taxes/296291/07-06-12 07:41 AM
- Trolls don't fit into the above. I have no issue with people saying negative things about BlackBerry. Over the years we've always kept these forums very open and loosely moderated. I don't like to clamp down on conversation, and I don't expect everybody on these forums to get along. I've used the analogy before that we call ourselves Crackberry Nation, and if you think smaller -- like the city you live in -- not everybody gets a long as one big happy family. There's some people you'll like, and some people you won't. The diversity and varying points of view are what make this forum awesome. But having something negative to say based on a formed opinion when you put it out there is one thing, and simply chiming in with crap to stir the pot is another. Just like nations put away the unsavory of society (they go to jail as they're not wanted walking the streets), we're going to do the same here with trolls. If you can't respect the community and its members, it's time for you to leave.07-06-12 07:42 AM
- 07-06-12 07:43 AM
You asked to stay on topic but now have used more off topic thread space up with this flim flam making something bigger than it is.
No further dialogue. Thank you07-06-12 07:46 AM
The government doesn't need any handouts. If the tax code allows a company to pay a lower tax, they should. If the government wants them to pay more, change the system.07-06-12 08:01 AM
Here is one example.
EERE News: DOE Highlights New GE Appliance Factory in Kentucky
GE moved the operation from China to Louisville's Appliance Park, the first facility to open there in more than 50 years. The plant revitalization was partially funded through a manufacturing tax credit of $24.8 million under the American Recovery and Reinvestment Act, and has already created hundreds of jobs in Kentucky.07-06-12 08:08 AMLike 2
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