Business, Tourism, Culture and Rural Development
August 19, 2015
Energizing the Economy Through Investments in Business
$100,000 Investment in Growing Company Supports Industry Development
The Provincial Government is providing $100,000 to Young’s Industrial Refrigeration Ltd. Funding will assist the industrial refrigeration and fabrication company avail of technical support and the employee training necessary to successfully complete an ongoing fabrication contract for the Hebron Project at Bull Arm.
“The Provincial Government understands the important connection between strategic assistance and economic development. I am confident that this investment will help Young’s Industrial Refrigeration Ltd. complete this important contract, ensuring that the company remains successful well into the future. Developments of this nature help create an attractive environment for people to live and work and are essential to maintaining and increasing the province’s population. Our government is committed to supporting such initiatives, as highlighted in our Population Growth Strategy.”
- The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development
Established as an industrial refrigeration company in 2000 and located in Lethbridge, Young’s Industrial Refrigeration Ltd. provides industrial refrigeration, fabrication and installation services, as well as marine, recreation, industrial and offshore equipment services. Funding is being provided through the Regional Development Fund and builds on previous funding of $10,000 that was supplied to assist the company to become ISO 9000 certified in 2011.
“The financial support provided by the Department of Business, Tourism, Culture and Rural Development will assist our company to obtain the skills and technical support needed to complete this contact, which we are confident will translate into increased business opportunities for Young’s Industrial Refrigeration Ltd. in the future.”
- Mike Young, Owner/Operator, Young’s Industrial Refrigeration Ltd.
With a recent addition of a second location in Come By Chance, Young’s Industrial Refrigeration Ltd. is strategically positioned near three oil and gas related industrial projects. Completion of the fabrication contract for Freyssinet, a specialized civil engineering company based in France, will result in 10 full-time positions at Young’s Industrial Refrigeration Ltd. Additional information on the company can be found by visiting: //youngsice.com/ 
.
“The Provincial Government continues to invest and provide support for companies in rural Newfoundland and Labrador through the Regional Development Fund. I’m delighted that Young’s Industrial Refrigeration Ltd. received this funding that will allow this business to grow and create more employment for Newfoundlanders and Labradorians.”
- Glen Little, MHA for Bonavista South
The Provincial Government is committed to supporting initiatives that nurture strong communities, as outlined in the population growth strategy, Live Here, Work Here, Belong Here, A Population Growth Strategy for Newfoundland and Labrador, 2015-2025. The strategy ensures investments and programs are aligned to encourage individuals to choose Newfoundland and Labrador to live, work and raise a family.
QUICK FACTS:
- The Provincial Government is providing $100,000 to Young’s Industrial Refrigeration Ltd. to help the company take advantage of ongoing opportunities in the offshore sector.
- The Department of Business, Tourism, Culture and Rural Development offers a wide range of services to economic development organizations. Additional information on programs can be found at: www.btcrd.gov.nl.ca/.
- The Population Growth Strategy is supported by four action plans covering the main elements of population growth – workforce, families, communities and immigration. For more information visit www.homeforgoodnl.ca .
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Media contacts:
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Tansy Mundon Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570 tansymundon@gov.nl.ca |
Mike Young Owner/Operator Young’s IndustrialRefrigeration Ltd. 709-467-9712 mike.young@youngsice.com |
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Stephen Chard Consistency Assistant to Glen Little MHA for Bonavista South 709-468-2132 stephenchard@gov.nl.ca |
2015 08 19 10:20 a.m.