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Innovation, Business and Rural Development
January 16, 2014

Strengthening the Economy Through Investments in Business Innovation

$85,015 Investment Supports Initiatives for Local Businesses

Four Newfoundland and Labrador businesses are in a better position to improve operational efficiencies and increase production capacity as the result of Provincial Government funding totalling $85,015.

“We are pleased to provide funding that supports innovation and helps Newfoundland and Labrador based businesses improve efficiencies and add to their competitive edge. This funding totalling $85,015 will support a variety of initiatives which will positively impact business operations by strengthening business infrastructure and thereby improving the services these operations provide to their clients.”
- The Honourable Charlene Johnson, Minister of Innovation, Business and Rural Development

The Provincial Government recognizes that business and sector development is a key part of economic growth. In response to the changing needs of the business community, the Department of Innovation, Business and Rural Development is providing funding to support businesses to implement manufacturing efficiencies and purchase new equipment. Businesses receiving funding are Smith Snacks, Triple J Imprinting Limited, Trinity Bakeshop, and GFI Composites. Additional information on funding can be found in the backgrounder below.

Through sound fiscal management and responsible decisions, the Government of Newfoundland and Labrador is strengthening the business environment, encouraging the development of innovative industries and building a vibrant economy.

QUICK FACTS

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Media contact:
Heather MacLean
Director of Communications
Department of Innovation, Business and Rural Development
709-729-4570, 697-4137
heathermaclean@gov.nl.ca

BACKGROUNDER
Businesses Receiving Funding to Support Initiatives to Improve Business Operations

Business Initiative District
Smith Snacks Funding will support a review of Smith’s manufacturing processes and help the company implement efficiencies, leading to improvements in their production practices. Bellevue
Triple J Imprinting Limited Funding will support Triple J Imprinting to purchase new manufacturing equipment while also supporting improvements to their existing infrastructure. Straits-White Bay North
Trinity Bakeshop Funding will allow Trinity Bakeshop to purchase a new commercial mixer that will increase production and improve efficiencies. Trinity North
GFI Composites Limited Funding will support GFI Composites in their development of a new website that will be used to promote new services to industrial customers. Trinity North

2014 01 16             10:50 a.m.

 
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