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Transforming Our Economy Transforming Our Economy

We must have a competitive environment for business development, and encourage industry to make investments that will enhance productivity and competitive position as well as to pursue opportunities to grow in new directions. We must also invest in infrastructure that will spur economic development, attract new employers to our province, encourage the expansion of national and multinational firms now established in New Brunswick, capitalize on opportunities in the energy sector and establish technology clusters.

Announcements
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Feasibility Study for Second Nuclear Power Plant - Secured deal with Team CANDU to conduct feasibility study for second nuclear power plant at Point Lepreau. - details
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Energy Co-operation with Maine - Moving forward with Maine on energy co-operation. In a Memorandum of Understanding, the governments of Maine and New Brunswick had agreed to explore opportunities for mutual benefits from their electrical interconnection. Phase 1 is complete and identified significant potential for Maine and New Brunswick to reap benefits in exploring energy-based projects together.  Phase 2 will be completed fall of 2007 and will assess the feasibility of particular approaches and their benefits and costs. - details
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NB Growth Program - Launched NB Growth Program, which will provide eligible entrepreneurs up to $100,000 for the establishment of a new business, and up to $60,000 for expansion, diversification or productivity improvement at an existing business. - details
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Help for Miramichi - Helped create a new community action committee; appointed personnel within Business New Brunswick to oversee Miramichi files; provided labour force expansion funding for Fatkat Animation Studios; added new seats for NBCC Miramichi; and helped create up to 150 jobs by partnering with the ATCON Group to support the creation of a new $21.5-million Centre of Excellence in Steel Fabrication in Miramichi.
Support for Miramichi region
New investment and jobs for Miramichi
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Canada’s Atlantic Gateway - Signed a memorandum of understanding (MOU) on the development of Canada's Atlantic Gateway with the other three Atlantic Provinces and the federal government. The gateway is a strategic, integrated and globally competitive transportation system, facilitating the movement of international commerce on North America's east coast. - details
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Wind Power Generation - Energy Minister Jack Keir and representatives from TransAlta Corporation marked the construction of a 96-megawatt (MW) wind farm. NB Power and TransAlta Corporation signed a 25-year power purchase agreement for 75 MW of wind power beginning in 2008. NB Power released a request for proposals for the purchase of up to 300 MW of wind-powered generation by November 2010 from private-sector developers.
96 MW wind farm in Kent Hills
Agreement for 75 MW of wind energy
RFP to purchase up to 300 MW of wind power
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Northern Economic Development Funds - Added $10 million to extend two economic development funds in northern New Brunswick (Restigouche-Chaleur and the Acadian Peninsula) - details
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Tourism Infrastructure - Allocated $100 million for tourism infrastructure (70% of which is for the North)
- details
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