SAINT JOHN (GNB) – S&P Data is establishing a business services centre in Saint John, creating about 450 jobs over the next five years, with support from the provincial government.

“Growing the business services sector is part of your government’s multi-year economic growth plan,” said Premier Brian Gallant. “These new jobs will allow more people to live and work in Saint John.”

It is estimated that creating about 450 new jobs would contribute $88.1 million in direct GDP for the province over five years.

The company’s decision to invest in Saint John highlights the strength of New Brunswick’s business services sector. The business services centre industry is identified as a strategic opportunity in the New Brunswick Economic Growth Plan.

“S&P Data is thrilled to be operating here in Saint John,” said president Brian Cato. “Our company offers great benefits and we focus heavily on employee engagement and culture. We are certain we can find the talent we need here in Saint John, and we know our new staff will love working at S&P Data. Opportunities NB has been a great partner as we have established ourselves in New Brunswick.”

To support the creation of these jobs, the company is eligible for an investment of up to $3.45 million from Opportunities NB, which is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across New Brunswick.

Most of this investment, $3 million, comes in the form of payroll rebates, which are performance-based and only disbursed to a company once it has created and maintained the jobs for at least one year and provided proof of salary levels and employment. Opportunities NB will also invest $450,000 as a non-repayable contribution, which will be tied to the company’s hiring targets and lease agreement.

S&P Data has signed a seven-year lease in Loch Lomond Place (the former Sears business services centre), providing further economic stimulus to Saint John’s east end.