Company looking to export markets with assistance from small business program

A bait manufacturing company having its official opening today is already targeting export markets in Atlantic Canada, with the help of funding assistance from a small business development program under the Department of Development and Rural Renewal.

Area MHA George Sweeney announced at the official opening of Quality Bait Services of Canada that the company will receive $25,000 under the Business and Market Development Program towards the development and implementation of a marketing program throughout Atlantic Canada. The company is providing a matching amount of funding, as a requirement of the development program. Mr. Sweeney made the announcement on behalf of Ernie McLean, acting Minister of Development and Rural Renewal.

"By targeting its marketing efforts in the Atlantic region, this bait manufacturing operation will not only create an estimated 16 full time and seasonal jobs in this area, but will position itself to generate even more employment and economic growth for this area in the long-term," Mr. Sweeney said.

Mr. Sweeney said there are also other important economic and environmental benefits of the operation.

"In using raw material that used to be discarded, Quality Bait Services is helping accomplish government�s policy objective of full utilization of fish resources. And with the enormous potential to replace imported bait with locally manufactured product, this is important in the overall objective of increasing the extent to which our local manufacturers grow their operations by focusing more on exports. Less reliance on imports enhances our ability to do that," he said.

Mr. Sweeney said that in 1999, millions of pounds of squid alone were imported to Newfoundland and Labrador. With the fishing industry heavily focused on shellfish instead of groundfish in recent years, the demand for a reliable source of bait has increased substantially.

Quality Bait Services has obtained exclusive rights from a United States company to produce and market in Canada and Cuba bait that is manufactured under the U.S. company�s patented process of converting fish and its by-products into bait.

Media contact: Josephine Cheeseman, Communications (709) 729-4570.

2000 11 17 2:40 p.m.