Business, Tourism, Culture and Rural Development
April 10, 2015

Identifying New Markets for a Dynamic Economy

Provincial Government Leads Trade Mission to Attract U.S. Clients

The Government of Newfoundland and Labrador is partnering with the province's areospace and defence industry association in leading a mission of local companies to the 2015 Sea-Air-Space Expo in Washington, D.C. from April 13 to 15. Washington has been identified as a key market for aerospace, defence, ocean technology and information and communications technology companies in the province.

"Participation in the 2015 Sea-Air-Space Expo is a strategic investment in promoting Newfoundland and Labrador companies to the mid-Atlantic U.S. market. Our government has led missions to this event for the past two years, providing a platform for home-grown innovation, and resulting in successful networking and marketing opportunities a variety of local industries."
- The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development

The Provincial Government, through the Department of Business, Tourism, Culture and Rural Development, will invest approximately $45,000 in covering a share in the cost of the expo's Canadian Pavilion. As well, through the Business Development Support Program, approximately $15,500 will be provided in stipends for the following business organizations participating in the mission;

• Solace Power;
• EXCITE Corporation;
• Dynamic Air Shelters;
• Agile Sensor Technologies;
• Bluedrop Performance Learning;
• Compusult; and
• Aerospace and Defence Industry Association of Newfoundland and Labrador

The Town of Gander is also participating in the mission.

"This business engagement offers the potential for significant value for our local industry. Participation in the expo is part of an overall strategy on behalf of our organization and the Government of Newfoundland and Labrador, with support from the Atlantic Canada Opportunities Agency, to expand business investment in our province and to promote the innovative products and technologies being produced across our industry."
- Lin Paddock, Executive Director, Aerospace and Defence Industry Association of Newfoundland and Labrador

The growth of the province's aerospace and defence industry is vital to the diversification to Newfoundland and Labrador's economy. This industry generates $350 million in annual revenues, and has experienced a 300 per cent growth rate since 2004. Participation in events such as 2015 Sea-Air-Space Expo is important to help enhance the competitiveness of local companies.

The Business Development Support Program assists Newfoundland and Labrador small and medium-sized enterprises with opportunities to increase their productivity and improve their competitiveness. The program supports businesses who demonstrate a desire to develop and grow by improving operations, investing in employees, and focusing on trade opportunities. Assistance is targeted towards businesses in strategic sectors that normally focus on export markets and/or improve import substitution.

Additional information on programs can be found at: www.btcrd.gov.nl.ca/

QUICK FACTS

• The Provincial Government will lead a contingent of aerospace and technology sector businesses to the Sea-Air-Space Expo in Washington D.C. from April 13 to 15.
• Washington has been identified as a key market for aerospace, defence, ocean technology and information and communications technology companies in the province, as part of an overall strategy to develop mid-Atlantic US markets.
• The Provincial Government will invest approximately $45,000 in covering a share in the cost of the expo's Canadian Pavilion, and provide through the Business Development Support Program, approximately $15,500 in stipends for participating business organizations.
• The Business Development Support Program assists Newfoundland and Labrador small and medium-sized enterprises with opportunities to increase their productivity and improve their competitiveness, focusing on strategic sectors.

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Media contacts:

Tansy Mundon Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca

Lin Paddock Executive Director Aerospace and Defence Industry Association of Newfoundland and Labrador 709-237-7340, 709-685-2566 lin.paddock@adianl.ca

2015 04 10                              12:10 p.m.