|
|
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
|