International IT Service Company Expands in Halifax, Nova Scotia, Canada



    HAMILTON, Bermuda, Oct. 29 /CNW/ - Paragon Advanced Development Ltd. is
expanding its existing Nova Scotia office, adding to the province's
international profile among leading global businesses.
    Paragon, operating under the name Ignition, will create up to 150 new
jobs within the next five years in Halifax, the location of its network
operations centre supporting its Ignition Managed Services business.
    From Nova Scotia, Ignition monitors its international clients' systems
and provides IT, business software and other technology services to more than
6,000 users.
    The Honourable Rodney MacDonald, Premier of Nova Scotia, made the
announcement today, Oct. 29, while in Bermuda for the annual MARHedge
international financial services conference.
    "Ignition's expansion is more proof that Nova Scotia is the location of
choice for companies expanding their global operations," said Premier
MacDonald. "Nova Scotia has an educated workforce, IT and business
infrastructure, and proximity to major markets."
    To support the company's expansion, the province of Nova Scotia, through
Nova Scotia Business Inc. (NSBI), is providing a five-year payroll rebate set
at a maximum of $1,260,000. Nova Scotia's Department of Economic Development
is contributing to this growth with a $300,000 training and recruitment
incentive. This deal is part of an ongoing strategy by NSBI to build a
world-class international financial services centre in Halifax.
    "By strategically expanding in Nova Scotia, Ignition will be able to
increase its overall operations," said Angus MacIsaac, Minister of Economic
Development. "The government of Nova Scotia is pleased to assist an innovative
international technology company's success in our province and on the world
stage."
    The company has been in Nova Scotia since 2001. It is part of the Paragon
Technology Group that is headquartered in Bermuda and has additional locations
in the Cayman Islands and Atlanta, Georgia, with further expansion plans
throughout the Caribbean.
    "Growing our Nova Scotia location makes sense for us," said Graham
Pearson, CEO of Paragon and president of Ignition. "A favourable business
environment with access to skilled labour made the province the clear choice
for our expansion."
    Ignition joins a number of international financial services and IT
companies to capitalize on Nova Scotia's competitive edge. The list includes
Citco Fund Services, Marsh, OC Financial Services, Butterfield Fund Services
and Research In Motion.
    "Ignition has recognized the many business advantages at play here in
Nova Scotia," said Stephen Lund, president and CEO of Nova Scotia Business
Inc. "The company's expansion is another success story for the province and
complements the growing finance and IT sectors in Nova Scotia."

    The Paragon Group, and specifically Ignition, has been providing
cost-effective IT solutions for the off-shore business community with a focus
on the insurance and finance sectors. Technical help-desk, network monitoring
and management, business recovery solutions and resource provisioning are
included in the range of services being provided.

    Nova Scotia Business Inc. is Nova Scotia's private sector-led business
development agency. NSBI is the investment attraction arm of the province and
helps businesses in Nova Scotia meet growth potential through advisory
services, trade development, financing and venture capital.




For further information:

For further information: Media Contact: Sarah Levy, Nova Scotia Business
Inc., (902) 222-3658, levyse@gov.ns.ca; Graham Pearson, Paragon Group of
Companies, (345) 938-9250, gpearson@paragon.bm, www.ignition.bm

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Nova Scotia Business Inc.

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