Project Strengthens Competitiveness of Enterprises

The Long Range Regional Economic Development Board will receive $39,520 from the Provincial Government to help install a six-kilometre, three-phase power line from McKay�s to St. David�s. The new power line will provide high voltage power for industrial use in an effort to attract business and make current industrial operations in the area more efficient.

�The Provincial Government�s investment in a three-phase power line in the Bay St. George South area represents our commitment to providing important infrastructure � infrastructure that helps stimulate economic growth,� said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. �This initiative enhances the development of a more competitive, productive region and supports the growth and profitability of enterprises.�

The additional of industrial power to the region will result in significant commercial benefits. It enables Chaffey�s Dairy Farm � the region�s largest farm � to expand its operations, along with potentially creating opportunities for other local enterprises.

�This project will provide industrial infrastructure to a rural community, laying the groundwork for local economic development and the expansion of the business community,� said John MacPherson, Executive Director, Long Range Regional Economic Development Board.

�This investment marks an important step in strengthening the competitiveness of three separate businesses,� said the Honourable Joan Burke, MHA, St. George�s - Stephenville East. �With improved competitiveness comes the opportunity for new employment and business opportunities, which ultimately contributes to the long-term sustainability of the area.�

Funding for this project is provided through the Provincial Government�s Regional/Sectoral Diversification Fund (RSDF). RSDF is a $5-million fund that provides non-repayable contributions to economic development agencies for initiatives that address regional and sectoral development and diversification.

A not-for-profit organization, the Long Range Regional Economic Development Board is focused on planning and facilitating economic development opportunities within its region.

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2008 10 23                      1:30 p.m.