News Release

For immediate release
February 6, 2004

Investments announced for North Sydney

North Sydney, N.S. – Three projects – an expansion of the Clearwater Seafoods Plant in North Sydney and infrastructure improvements to the downtown and to the exhibition grounds – will bring new opportunities and new infrastructure to North Sydney as the community builds a 21st century economy.

The Honourable Joseph McGuire, Minister of the Atlantic Canada Opportunities Agency (ACOA) and Enterprise Cape Breton Corporation (ECBC), accompanied by the Honourable Mark Eyking, MP Sydney-Victoria, and local officials today announced the three projects, representing a total investment of approximately $3 million.

“Through a mix of business investments and support to community-based initiatives, Cape Breton is successfully rebuilding its economy,” says
Minister McGuire. “The Clearwater expansion brings additional jobs to the area, while the enhanced community infrastructure provides the basis for incremental growth and investment.”

“Positive things are happening in our area thanks to the efforts of community-minded people with support from the Government of Canada,” says
Mark Eyking, MP for Sydney- Victoria. “The funding announced today not only serves to revitalize the downtown core but also represents an investment in the fishery and agricultural sectors, key components of the local economy.”

Clearwater Seafoods Limited Partnership is investing over $1.6 million to expand its North Sydney processing plant, creating an additional 23 full-time jobs. The project includes building renovations and the addition of new equipment to provide additional production capacity for the plant’s value-added cannery. In addition, a food scientist will be hired to conduct research and development activities designed to develop new products, allowing the company to take advantage of new and emerging markets.

The Northside Business Improvement and Development Association (BIDA) will undertake a series of developments to the downtown that include façade improvements, streetscaping, infrastructure upgrades and the development of green areas.

The Cape Breton Federation of Agriculture will use the assistance to make improvements to the Cape Breton County Farmers’ Exhibition grounds in North Sydney. As part of the project, the existing buildings will be upgraded. The facilities are used as a meeting venue for various natural resource organizations. The Exhibition itself features horse and livestock competitions, agriculture, fishery, and forestry displays, musical entertainment and many other special events.

Project funding details are as follows: Clearwater will receive a repayable contribution of $275,000 through the ACOA Business Development Program and an ECBC loan of $425,000 for the plant expansion. An additional
$99,360 will be provided to assist with research and development activities. This investment is expected to grow the company’s export market significantly over the next three years. The total estimated cost of the Northside Business Improvement and Development Association project is
$700,000. Enterprise Cape Breton Corporation, through ACOA’s Strategic Community Investment Fund (SCIF) and BDP will provide non-repayable contributions totalling $500,000. Finally, the total estimated cost of the Cape Breton Federation of Agriculture project is $625,000. ECBC will provide a
non-repayable contribution of $500,000 through ACOA’s SCIF Program.

The Strategic Community Investment Fund provides $135 million over five years to help communities in Atlantic Canada create an environment that encourages and enhances the development of strategic sectors. The fund is a component of the $700-million Atlantic Investment Partnership, a Government of Canada initiative designed to help Atlantic Canadians compete in the global, knowledge-based economy.

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:

Stephen Heckbert
Office of the Honourable Joe McGuire 
Minister of ACOA and ECBC
Tel: (613) 948-7293

John Coady
Office of Mark Eyking, MP 
Sydney-Victoria
Tel: (902) 567-6275

Mr. Terry Haley, Chair
Business Improvement and Development Association, North Sydney
Tel: (902) 564-9270

Mr. Ray Bragg
Manager, Exhibition Grounds
Tel: (902) 794-7633 office
(902) 794-8124 home

Peter Cameron
Clearwater Seafoods Limited Partnership
Tel: (902) 794-8501

D.A. Landry
ECBC Communications
Tel: (902) 564-3617