Nova Scotia to release review of assistance programs for the private sector

HALIFAX – The findings of an independent review of Nova Scotia’s financial assistance programs for the private sector will be released Thursday.

The provincial government says former Dalhousie University president Tom Traves will release his report with recommendations, more than two months after he was tasked with looking at loans, loan guarantees, grants, equity and payroll rebates.

At the time of his appointment, Economic Development Minister Michel Samson said Traves would speak with business groups and leaders to improve the way the government provides assistance to businesses.

The review was also to examine the role of Nova Scotia Business Inc., the province’s arms-length business development agency, and Innovacorp, its early-stage venture capital organization.

The overhaul of economic development programs has been one of the Liberal government’s key promises since it was elected in October.

Traves was to be paid about $40,000 for his work, while consulting companies and the Sobey School of Business were to be paid about $132,000 in total.