Business, Tourism, Culture and Rural Development
October 10, 2014
Strengthening the Economy Through Strategic Investments
Over $367,000 in Funding Supports Economic Diversity in the Corner Brook Region
A Provincial Government investment of $367,912 will help enable seven companies based in the Corner Brook region build stronger and more dynamic communities and enhance their local economies. The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development, toured Quality Cabinetry and Carpentry and Headline Holsteins Ltd., two of the funding recipients, while in the region this week.
“From innovations in farming to improvements in tourism, this $367,912 investment demonstrates the dynamic and versatile nature of the new Department of Business, Tourism, Culture and Rural Development. The diversity of these businesses receiving funding speaks to the synergies that are so clearly found in the new department and its ability to further grow the economy. We are proud to support Newfoundlanders and Labradorians in their efforts in a variety of enterprising endeavors.”
- The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development
Encompassing a wide variety of industries, including innovation in farming technology, tourism, and cabinet manufacturing, this funding will assist the companies with infrastructure improvements, equipment purchases, as well as staff training and skill development, all leading to increased capacity and improved market presence. Funding was provided through the department’s Business Development Support Program and the Regional Development Program. A full list of organizations receiving funding can be found in the backgrounder below.
The Provincial Government remains focused on the province’s long-term prosperity by encouraging job creation, strong communities and natural resource development that is of maximum benefit to Newfoundlanders and Labradorians.
QUICK FACTS
- The Provincial Government is investing $367,912 in support of seven western Newfoundland-based companies to strengthen regional economic development opportunities in the region.
- The Business Development Support Program assists Newfoundland and Labrador small and medium-sized businesses with opportunities to increase their productivity and improve their competitiveness.
- The Regional Development Program provides support by way of non-repayable contributions to organizations for the development and implementation of economic initiatives.
- The Department of Business, Tourism, Culture and Rural Development offers a wide range of programs, services and assistance to established and potential business. Information on funding can be found at: //www.ibrd.gov.nl.ca/starting/fundingincentive/index.html
- 30 -
Media contact:
Tansy Mundon Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca |
BACKGROUNDER
Organizations Supported in Western Newfoundland
The Provincial Government has announced an investment of $367,912 in seven Corner Brook-based businesses and community-based organizations. The funding will be used to provide employment opportunities and support infrastructure improvements.
Corner Brook Stream Development Corporation
The Corner Brook Stream Development Corporation will receive $94,000 to assist it with its efforts to upgrade current tourism infrastructure. This will include the development of a series of walking trails that will connect existing business districts on both sides of the Trans Canada Highway to the Marble Mountain Ski Resort and other existing trail networks. Funding is through the Regional Development Program.
Headline Holsteins Ltd.
Headline Holsteins Ltd., located outside of Deer Lake, will receive $100,000 to purchase a new Drag Line Nutrient Management System. The new and innovative technology, which is the first of its kind in the province, will allow the company to further implement its nutrient management plan with a system that will fertilize 1,250 acres of farmland with liquefied manure. Funding is through the Business Development Support Program.
Invertebrate Management Ltd.
Invertebrate Management Ltd., operators of the Newfoundland Insectarium in Deer Lake, will receive $25,000 to assist with its strategic marketing, advertising, and social media campaign in order to promote the Insectarium’s programs and exhibitions. Funding was provided through the Business Development Support Program.
Linkum Tours Inc.
Linkum Tours Inc. in Humber Valley will receive $19,392 to assist with a new marketing plan that will promote the company’s adventure tourism operations at Quirpon lighthouse, Cape Arguille lighthouse, and in the Torngat Mountains. Marketing efforts will seek to enhance and expand the company’s national and international profile, thereby generating new revenue streams. Funding is through the Business Development Support Program.
National 2015 Jr. Curling Championships Host Society
To support its ability to host the 2015 Canadian Junior Curling Championships, the Corner Brook Curling Association will receive $25,000 to purchase and install required equipment. Funding is through the Regional Development Program.
New World Dairy Inc.
New World Dairy Inc. in St. David’s will receive $100,000 to support the purchase of a dual fuel boiler. The new technology and resulting process will allow the company to re-purpose a variety of farm waste, methane gas in particular, which will then be utilized by the boiler to produce thermal energy. Funding is through the Business Development Support Program.
Quality Cabinetry and Carpentry
Quality Cabinetry and Carpentry in Corner Brook will receive $4,250 to support the company with a variety of its training objectives. This will include skills improvement, training for administrative staff and management, as well as enhanced computerized accounting principles; all in an effort to increase productivity and production capacity. Funding is through the Regional Development Program.
2014 10 10 10:15 a.m.