NLIS 4
December 8, 2005
(Innovation, Trade and Rural Development)
 

The following statement was issued today by Kathy Dunderdale, Minister of Innovation, Trade and Rural Development. It was also read in the House of Assembly:

I rise in the House to inform you of three impressive, local companies that, with assistance from the Department of Innovation, Trade and Rural Development�s Small and Medium-sized Enterprise Fund, are helping to create employment opportunities in Newfoundland and Labrador.

Newfoundland and Labrador�s future depends on our ability to grow and diversify our economy in all regions. We know that small and medium-sized businesses play a critical role in helping us do that, which is why this government created the SME Fund. This fund helps businesses to create employment and to build our economy by providing loans and investments to small businesses in strategic growth sectors, and to businesses that have export potential and need assistance to enter or expand in external markets.

Through the SME Fund, government has allocated almost $45,000 to Labrador Envirotech Incorporated of Happy Valley-Goose Bay to implement a process to purify industrial waste water coming from the operations of the military base, the Voisey�s Bay mining site, and other sites in the region. With this funding, Labrador Envirotech will have the means to provide a service that is currently only available outside of Newfoundland and Labrador. In doing this, the company will also introduce a new component to our province�s environmental industry, further diversifying this industry and creating excellent potential for future developments.

Versatile Stones Incorporated of Centreville has been allocated $87,000 from the SME Fund to establish a manufacturing operation for cultured stone and brick products in the area. Manufacturing has been identified as a strategic growth sector for the Gander-New-Wes-Valley region through the Comprehensive Regional Diversification Strategy. This endeavor will create up to seven new jobs in the region and add diversity to the local economy.

Norseman Crafts of St. Anthony has received $100,000 from the SME fund and $3,700 from the Business and Market Development Program to construct an interpretation centre at a popular tourist site focused on iceberg and whale watching. The building will house a craft shop and provide Internet access to visitors. The Fishing Point site in St. Anthony is a popular tourist area, and the addition of this centre will strengthen the area and provide focus on icebergs and whales as the main attractions for visitors. This project will lead to the creation of three new seasonal positions.

By supporting enterprises such as these, this administration is continuing to demonstrate its commitment to growing and diversifying our economy in rural Newfoundland and Labrador. I wish Labrador Envirotech, Versatile Stones and Norseman Crafts success with these new ventures.

2005 12 08                                                1:45 p.m.
 


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