Government is providing detail today on a new job accelerator and growth program.

It provides qualified companies with a payroll rebate of 10 per cent for each incremental job created. A further five per cent is added for the hiring of a recent graduate in the province or a new resident to the province from another jurisdiction with priority skills that are in limited supply in Newfoundland and Labrador. in return, the company has to agree to create at least 20 incremental jobs over a three-year period with a minimum average salary of $50,000.

Minister Andrew Parsons describes the program as a valuable tool to attract high-growth companies and investment to the province.

He says they are trying to incentivize companies to scale up and create jobs, whether they are already in the province or looking to set up.