June 29, 1998
(Development and Rural Renewal)

Announcement on Port aux Basques Incubator Mall

Bill Ramsay, MHA - Burgeo and LaPoile, on behalf of Beaton Tulk, Minister of Development and Rural Renewal, announced a new approach to the operation of the Port aux Basques Incubator Mall involving the establishment of a new community-based not-for-profit corporation.

"This announcement involves a significant transfer of assets from the government of the province to this newly established not-for-profit community-based economic development organization," said Tulk.

The new not-for-profit community-based economic development corporation which will now own the mall, has a mandate to operate the mall as a mixed commercial-incubator facility. Business support services to new business ventures setting up in the mall will continue to be provided. The objective is to support economic development within the town and surrounding area.

"The Department of Development and Rural Renewal will continue to work with people in this area to support the diversification of the economy and support new business development opportunities," said Tulk. "Our continued commitment to this region is demonstrated by the official opening of our new office in Port aux Basques."

Tulk praised the Town of Port aux Basques and the regional economic development board for their involvement in this new approach for the mall. "I consider these people to be forward thinking active community development agents in this region and I am confident in their ability to help turn the facility into a vibrant operation."

Minister Tulk has scheduled a news conference for 4 p.m. on June 30 at the Pasadena Incubator Mall regarding the future of that facility.

Contact: Scott Reid, Communications, (709) 729-4570.

1998 06 29                         11:45 a.m.