Investment Targets Increased Marine Capacity in Petty Harbour

A Provincial Government contribution of $66,500 will assist the Harbour Authority of Petty Harbour to undertake infrastructure improvements to increase capacity for marine traffic to and from the port. The upgrades will create new commercial opportunities for local businesses operating in the marine service sector.

“Well-developed infrastructure is a key element of the Provincial Government’s approach to community and business development,” said the Honourable Keith Hutchings, Minister of Innovation, Business and Rural Development. “Infrastructure improvements in Petty Harbour will enable the community to accommodate a greater volume of marine traffic and bring the facility up to current standards. It will also build upon the area’s wealth of tourism products that range from walking and boat tours to waterfront development and lookouts.”

The Harbour Authority of Petty Harbour is a not-for-profit organization and will use the contribution to assist in building a wharf, 230 feet by 25 feet, adjacent to the Petty Harbour Fishermen’s Co-operative. The project is anticipated to be completed in December 2012.

“This funding is a good indicator of support by the Provincial Government and important for the ongoing success of the area’s fishery and waterfront tourism development initiatives,” said Tom Best, President of the Board of Directors, Petty Harbour Fishermen’s Cooperative.

The Town of Petty Harbour-Maddox Cove welcomes the funding announcement by the Department of Innovation, Business and Rural Development.

“We would like to congratulate both the Harbour Authority and the Fishermen’s Cooperative in receiving this funding, and the tremendous volunteer effort by their members in helping complete this work,” said Ron Doyle, Mayor, Petty Harbour-Maddox Cove. “The waterfront area has been identified in the town’s strategic tourist plan as one of the main attractions for tourists and visitors to our community.”

This initiative was funded through the Regional/Sectoral Diversification Fund. This program, through Budget 2012: People and Prosperity – Responsible Investments for a Secure Future, has $5 million available for investment. Administered by the Department of Innovation, Business and Rural Development, the program provides non-repayable contributions to economic development agencies for initiatives that address regional and sectoral development and diversification.

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2012 06 08             3:10 p.m.