July 10, 1996
(Industry, Trade and Technology)

Premier announces two EDGE companies

Premier Brian Tobin announced today that Provincial Studios Limited and Atlantic Packaging Inc. are eligible for incentives available under the province's Economic Diversification and Growth Enterprises (EDGE) program.

Provincial Studios Limited is a Corner Brook company that has recently secured a contract with Kmart Canada to operate its 83 portrait studios across Canada. This contract includes the development and processing of all film from these locations at its colour lab in Corner Brook. This project requires a capital investment in excess of $1.7 million and will employ 37 people.

Atlantic Packaging Inc., a local company associated with Atlantic Group Limited and its Atlantic Polybead Division at Corner Brook intends to purchase new machinery and equipment which will allow the company the flexibility to manufacture various insulated containers, lids and other related products. The expansion requires a capital investment in excess of $1.5 million and will employ nine people in the first year of operation.

"The EDGE program helps to create an environment where smaller businesses are able to gain competitive ground," says Premier Tobin. "EDGE provides a decided advantage for organizations because it has created a business environment where it is economically feasible for these smaller companies to compete in today's marketplace."

These two companies bring the total number of companies that have established or expanded to 30 since the EDGE legislation was passed 19 months ago. Overall, the program has been responsible for the creation of close to 300 jobs and is projected to create over 1,000 jobs in the first three years of operation. Provincial Studios Ltd. and Atlantic Packaging Inc. will bring a total of 46 new jobs to the area in the first year.

Companies that meet specific criteria are designated under the province's EDGE program and are eligible for incentives such as a tax holiday, nominal fee Crown land, and training grants in the initial phase of operation.

Contact: Cathy Coady, Director of Public Relations, Office of the Premier, 682-9370; or John Doody, Director of Public Relations, Industry, Trade and Technology, (709) 729-0050.