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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