Business, Tourism, Culture and Rural Development
Municipal Affairs
October 14, 2016
Growing Local Economies
Provincial Government Announces Significant Investments in Grand Bank Region
Today the Honourable Christopher Mitchelmore, Minister of Business, Tourism, Culture and Rural Development, and the Honourable Eddie Joyce, Minister of Municipal Affairs, announced over $286,000 in investments for economic development for the Grand Bank region.
“Diversifying regional economies and advancing programs that support economic development is a priority for this government under the leadership of Premier Ball. These investments will help the Grand Bank region and the businesses that operate here to remain competitive in the global market.”
- The Honourable Christopher Mitchelmore, Minister of Business, Tourism, Culture and Rural Development
Grand Bank’s Dynamic Air Shelters, Ltd., a local firm manufacturing air inflatable structures for customers and markets throughout North America, has received $178,000 through the province’s Business Investment Fund and Business Development Support Program. The investments will be used for the purchase and installation of specialized equipment and software for the company’s inflatable air shelter manufacturing plant.
In addition, over $93,000 has been invested through the Department of Municipal Affairs, along with contributions from the federal and municipal governments, in the Grand Bank Pool’s heating and ventilation system.
“The Grand Bank Pool is an important piece of municipal infrastructure which is well used by area residents, as well as visitors to the community. I am pleased to see the federal, provincial and municipal governments partner to upgrade this facility so that it can be enjoyed for many years to come.”
- The Honourable Eddie Joyce, Minister of Municipal Affairs
The Grand Bank Development Corporation (GBDC) also received approximately $15,500 through the Business Development Support Program to further develop and implement an investment attraction and marketing plan for the Grand Bank region.
“Each investment in Newfoundland and Labrador’s rural areas that we make with our federal and municipal partners is an investment in the long-term sustainability of our communities. The projects we’re announcing today are no exception - they will safeguard the future of Grand Bank, and ensure residents have quality recreational infrastructure and employment opportunities for many years to come.”
- Carol Anne Haley, MHA for Burin - Grand Bank
The Business Development Support Program assists Newfoundland and Labrador Small and Medium-sized Enterprises (SMEs) with opportunities to increase their productivity and improve their competitiveness. The Business Investment Fund provides capital for growth and expansion of small and medium-sized enterprises, with particular focus on sectors that build on regional strengths.
QUICK FACTS
- The Provincial Government is investing over $286,000 in economic development for the Grand Bank region.
- The investments include approximately $178,000 for Dynamic Air Shelters, $15,500 for the Grand Bank Development Corporation and over $93,000 for the Grand Bank Pool.
- The Business Development Support Program assists Newfoundland and Labrador Small and Medium-sized Enterprises (SMEs) with opportunities to increase their productivity and improve their competitiveness.
- The Business Investment Fund provides capital for growth and expansion of small and medium-sized enterprises, with particular focus on sectors that build on regional strengths.
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Media contacts:
Debbie Marnell Director of Communications (A) Department of Business, Tourism, Culture and Rural Development 709-729-4819, 699-9048 debbiemarnell@gov.nl.ca |
Heather May Director of Communications Department of Municipal Affairs 709-729-1983, 697-5061 heathermay@gov.nl.ca |
Nathan Downey Communications Assistant Government Members Office 729-3226 nathandowney@gov.nl.ca |
2016 10 14 4:25 p.m.