08/17/2012 11:44 EDT | Updated 10/17/2012 05:12 EDT

Nova Scotia gives $700,000 payroll rebate to Ocean technology company

HALIFAX - An ocean technology company with plans to expand its workforce is getting a five-year payroll rebate to a maximum of $700,000 from the Nova Scotia government.

The rebate for Halifax-based Focal Technologies will come through the province's arms-length business development agency, Nova Scotia Business Inc.

The company says it plans to create 60 jobs over the next five years, including production technologists, product assemblers and engineers.

Focal Technologies currently employs 150 people at its facility in the Halifax community of Burnside.

The company makes technology products used in the offshore petroleum, oceanographic and seismic industries, including fibre optic telemetry systems for undersea vehicles.