Dec. 30, 2008
MONCTON (CNB) - The provincial government is helping to make Moncton more attractive to business by assisting in the development of 63 hectares of land in the Caledonia Industrial Estates business park, Minister of Business New Brunswick Greg Byrne announced today.
"We know that Moncton needs more industrial land to build business capacity for the future," Byrne said. "This investment will create more serviced lots for companies to be more successful in the Moncton area."
Business New Brunswick is contributing an $800,000 forgivable loan toward the cost of the $5-million project. Caledonia Industrial Estates is a business park managed by Moncton Industrial Development Ltd. (MID), a non-profit corporation owned by the City of Moncton.
"We continue to have businesses knocking on our doors to move into this park," said Mike Mann, president of MID. "This latest expansion will allow us to add to our client base and help create more jobs and opportunities for New Brunswickers."
Mann said that due to the success of the park in recent years, its inventory of serviced lots has been greatly reduced, limiting its ability to attract new clients. The funding provided by Business New Brunswick will help with the development of new lots, which includes new paved streets, and water and sewer lines.
Byrne said that investing in the industrial park is part of Business New Brunswick's strategy to attract new companies and help existing businesses grow.
"By building industrial capacity in Moncton, we are providing opportunities for business to thrive and expand," said Byrne. "By working to attract new tenants and new jobs to New Brunswick, Moncton's business community will help move the province forward toward its goal of self-sufficiency by 2026."
MID was established in 1959 as a joint partnership of the City of Moncton and the Moncton Chamber of Commerce, for the purpose of promoting industrial development through the establishment and development of a new industrial park. Today, the organization owns and operates two industrial parks in the city: the Moncton Industrial Park and Caledonia Industrial Estates.
Caledonia Industrial Estates is located on the city's north side, adjacent to the Trans-Canada Highway. It was significantly enhanced in the mid 1990s, with expanded lots, park facilities and a new interchange access to the Trans-Canada Highway.
The park presently occupies 672 hectares, with more than 85 businesses already established.
MEDIA CONTACTS: Ryan Donaghy, communications, Business New Brunswick, 506-471-5554, firstname.lastname@example.org; Peter Belliveau, general manager, Moncton Industrial Development, 506-857-0700, email@example.com.