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The Canadian Press - ONLINE EDITION

Nova Scotia Business Inc. offers up to $6.2 million for fish oil plant expansion

MULGRAVE, N.S. - A Nova Scotia Crown agency says it will provide up to $6.2 million in subsidies to a Dutch company planning a $30-million investment in its fish oil processing factory in Mulgrave.

Nova Scotia Business Inc. says it will give about $1.2 million to Royal DSM NV if it creates 50 jobs over five years at the plant.

The money would be offered through payroll rebates after jobs are created.

Nova Scotia Business Inc. says it will also give $5 million to the company if it completes its investment and maintains 200 jobs with an average salary of $72,000 for the five-year period.

Hugh Welsh, the president of the company's U.S. subsidiary, says it will predominantly manufacture Omega 3 fish oil products.

Welsh says his goal is to finish the factory upgrades before the end of the year.

Royal DSM NV acquired Ocean Nutrition in 2012.

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