News Release

For immediate release
June 20, 2002

NEW WATERFORD BUILDING STRATEGY FOR LONG-TERM ECONOMIC GROWTH

NEW WATERFORD, N.S. -- The foundation for long-term economic renewal and job creation in New Waterford is being laid with assistance from the Government of Canada and through projects spearheaded by community economic development organizations and business people.

"The Government of Canada, through Enterprise Cape Breton Corporation, is working with this community to identify opportunities and create an environment that will stimulate long-term economic growth," said Mark Eyking, Member of Parliament for Sydney-Victoria. "This is a long-term process but progress is being made."

Several projects are underway that serve to assess the community's assets and to plan for long-term growth. The New Waterford and District Economic Renewal Association (NewERA) is taking the lead role in several of these projects.

A $20,000 grant from ECBC and the Community Adjustment Fund is being used to develop a strategic plan to guide the revitalization of the downtown core of the community. 

A $30,415 grant from the Community Adjustment Fund will be used to hire a consulting team that will evaluate and assess the feasibility of developing an incubator building in New Waterford. The study will include an economic analysis of the concept, a review of ownership models, preparation of cash flow projections, recommendations for appropriate technology, review of potential sites, preparation of architectural plans, an estimate of capital costs and preparation of construction specifications.

A detailed site review of the DEVCO-owned assets in the town is also underway and includes an engineering and architectural assessment of structures at the Lingan-Phalen site. The objective is to identify potential uses for these facilities that will provide a catalyst for economic development. When completed, the information will be used to guide future development for the site. The $86,000 project costs will come from ECBC. 

Potential entrepreneurs in the New Waterford area have access to an entrepreneurial training program delivered in their community. NewERA is sponsoring the project and the training is being delivered by the YMCA Enterprise Centre. ECBC contributed the total one-year project costs of $59,500. 

The training program will be delivered in the Carmel Centre and will allow interested individuals to work one-on-one with a business development officer to develop a business plan. The training also provides a customized learning path for each client. This will increase the potential for success of new business start-ups.

The objective is to contribute to the creation of new businesses in the New Waterford area as well as to the development of a climate that supports commercial activity. 

The history and culture of New Waterford is being promoted through a downtown revitalization initiative. This will involve the development and placement of large murals in the downtown area. The murals will improve the image and appearance of the downtown core. The objective is to instill a sense of pride and renew the interest of residents in patronizing local businesses. The $157,000 project costs will come from the Community Adjustment Fund. 

Somethin' Creatif Print Incorporated will expand by purchasing its own building on Plummer Avenue and carrying out renovations. The company will also create a website to expand its export sales. ECBC will make a repayable contribution of $50,000 to this project.

The New Waterford & District Economic Renewal Association has been serving New Waterford, Lingan, River Ryan, Scotchtown, New Victoria and Victoria Mines since 1998. 

Enterprise Cape Breton Corporation offers programs in support of economic development initiatives and is responsible for delivering ACOA's programs on Cape Breton Island and in the Mulgrave area.

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FOR ADDITIONAL INFORMATION CONTACT:

Mark Eyking, MP's Office
Tel.: (902) 567-6275
Fax: (902) 564-2479

Marcie Stanley, ECBC 
Communications Officer
Tel: (902) 564-7876

Carl Getto, Co-ordinator
New Waterford & District Economic Renewal Association
Tel: (902) 862-7870

Kim Desveaux
Somethin’Creatif Print Inc.
(902) 862-8932
www.creatifphotostuff.com