News Release

For immediate release
October 31, 2003

Enterprise Cape Breton Corporation Provides Additional
Incentive For Economic Development

Sydney, N.S. – In an effort to better manage its surplus lands and to provide incentives for investment and job creation, ECBC has added to its economic development tools.

The Corporation has made select parcels of land available at a nominal fee for economic development purposes. As a federal Crown corporation, Enterprise Cape Breton Corporation (ECBC) has a broad and flexible mandate for economic development that sets it apart from other agencies operating in the region. It is able to hold real estate and to make it available as an incentive for economic development on Cape Breton Island and in Mulgrave, Nova Scotia.

Earlier this year, after a public call for expressions of interest advertised in local newspapers, ECBC provided a 10-acre lot of land adjacent to the Ben Eoin Ski Hill for development. Construction has commenced on The Birches at Ben Eoin, a four-star country inn that represents an investment of $1 million.

Currently, ECBC has advertised for expressions of interest to develop an approximately 1.9–acre site adjacent to the new call centre building in New Waterford.

“By making vacant land available for development, ECBC is making full use of its legislative powers in support of the Cape Breton economy,” said
D.A. Landry, Communications Director, ECBC. “In addition to the economic benefits brought about by the project components’ investment, the development of these lands provides economic development infrastructure for the local community and an increased tax base. This benefits the entire community.”

Before land is made available to the successful proponent, the applicants are requested to submit a proposal that outlines the nature of the development, the timeline, the background of the business, organization and/or individuals involved, the cost, the sources of funding, and the potential economic benefit. The development must also be operationally sustainable.

All proposals are subject to ECBC’s due diligence evaluation.

“ECBC is becoming a major property holder on Cape Breton Island. Retaining undeveloped land does not promote economic development. The Corporation is pleased to be able to provide an additional incentive to encourage economic development when clear economic benefits can be achieved,” added
Mr. Landry.

Anyone interested in submitting a development proposal is encouraged to contact the ECBC office.

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.

FOR ADDITIONAL INFORMATION CONTACT:

D.A. Landry
ECBC
902-564-3617