This is a big one. Somebody should start to eventually wonder why New Brunswick is not winning these – and hasn’t for years. We seem to be content with a few more small virtual call centres in Perth Andover. I’m all for VAS but New Brunswick has got to start winning at least our share of these. See my note below about the incentive package:

Firm to bring in 300 new jobs
AIM Trimark to set up in downtown Charlottetown
By Wayne Thibodeau
The Guardian

A major job announcement that has the potential to revolutionize Charlottetown’s downtown core was made Friday.

AIM Trimark will locate its Global Enterprise Centre in the capital, creating 300 full-time jobs over the next 10 years.

AIM Trimark’s parent company, AMVESCAP, is one of the world’s largest independent investment management companies.

With one announcement, AIM Trimark becomes one of the Island’s largest private sector employers.

Phil Taylor, senior managing director with AMVESCAP, believes this is only the beginning of a long relationship his company, and others, will have with Prince Edward Island.

The Global Enterprise Centre will not be a call centre, said Taylor. It will provide client relations with financial advisers, as well as act as a backup to its Toronto headquarters in the event of a weather or terrorism-related crisis.

“I’m pleased that AMVESCAP is among the first of, I’m sure, more global companies to call P.E.I. home,” Taylor said at a news conference Friday packed with community and business leaders and students hoping one day to call AIM Trimark their employer.

The P.E.I. government is providing wage subsidies.

Taxpayers will pay 15 per cent of each employee’s salary at AIM Trimark for the first three years. That will cost the province about $2,700-$2,800 per employee.

After three years, the province’s subsidy drops to 7.5 per cent for the remaining seven years of the 10-year deal.

Average starting salaries will be about $35,000.


So, I think the journalist frigged up the incentive figures. Taxpayers will be 15% of the salary for the first three years and 7.5% for seven more. 15% of $35k is $5,250. So over three years that would be $15,750. 7 years at 7.5% = $18,375. So the total incentive would be in today’s dollars based on the average salary of $35k = $34,125 over ten years.

That’s a little more than the “$2,700-$2,800 per employee” mentioned in the article.