Over $367,000 in Funding Supports Economic Diversity in the Corner Brook Region

Written by on October 10, 2014

assemblyStrengthening 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: http://www.ibrd.gov.nl.ca/starting/fundingincentive/index.html

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